Natural Gas Storage Report - April 11

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Natural Gas Storage Report - April 11

Post by dan_s »

Working gas in storage was 1,155 Bcf as of Friday, April 5, 2019, according to EIA estimates. This represents a net increase of 25 Bcf from the previous week.
Stocks were 183 Bcf less than last year at this time and 485 Bcf below the five-year average of 1,640 Bcf.
At 1,155 Bcf, total working gas is within the five-year historical range. < Only because of the big dip in storage in Q1 2014 which set the bottom of the 5-year average very low.

The build was actually smaller than I expected considering how mild the weather was last week.

We are now in the "Shoulder Season" when gas in storage will build steadily until late June when real summer heat increases demand from gas fired power plants. We can expect a big chunk of the delta to the gas in storage last year at this time to be wiped out over the next few weeks since April, 2018 was much colder than normal.
Dan Steffens
Energy Prospectus Group
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