Natural Gas Storage Report - July 31

[dan_s]

Working gas in storage was 2,307 Bcf as of Friday, July 25, 2014, according to EIA estimates. This represents a net increase of 88 Bcf from the previous week. Stocks were 530 Bcf less than last year at this time and 641 Bcf below the 5-year average of 2,948 Bcf.

Still on-track for storage of ~3,500 Bcf when next winter starts.

[ghrcap]

Slightly Bullish

EIA Natural Gas Inventory: +88 bcf vs. consensus of +93 bcf and +90 bcf last week.
Futures 1.3% to $3.834

[dan_s]

When it becomes clear that storage will have trouble reaching 3,500 bcf before winter draws begin, the price of gas should push higher. A couple storage reports around +50 Bcf in August would help a lot.