NG Storage Report - May 13

dan_s · Post by **dan_s** » Thu May 19, 2011 10:59 am

Working gas in storage was 1,919 Bcf as of Friday, May 13, 2011, according to EIA estimates. This represents a net increase of 92 Bcf from the previous week. Stocks were 235 Bcf less than last year at this time and 36 Bcf below the 5-year average of 1,955 Bcf.

I believe NG price will drift lower this summer unless hurricane activity shut-ins production in the GOM or summer heat increases demand for power generation. I also believe prices will drift higher starting in November.

I will be great if NG can hold around $4/mcf. Higher coal prices should give some support.