EiA - Weekly Natural Gas Storage Report - Sept 12
Posted: Thu Sep 12, 2019 11:43 am
Working gas in storage was 3,019 Bcf as of Friday, September 6, 2019, according to EIA estimates. This represents a net increase of 78 Bcf from the previous week.
Stocks were 393 Bcf higher than last year at this time and 77 Bcf below the five-year average of 3,096 Bcf.
At 3,019 Bcf, total working gas is within the five-year historical range.
Slightly bullish as the build was below estimates. Still plenty of room in storage and one week closer to the winter heating season. NYMEX futures for Q4 are over $2.62/MMBtu, which is $0.22 higher that what my forecast models are based on. s/b a nice Christmas for our "gassers" if this holds up.
Stocks were 393 Bcf higher than last year at this time and 77 Bcf below the five-year average of 3,096 Bcf.
At 3,019 Bcf, total working gas is within the five-year historical range.
Slightly bullish as the build was below estimates. Still plenty of room in storage and one week closer to the winter heating season. NYMEX futures for Q4 are over $2.62/MMBtu, which is $0.22 higher that what my forecast models are based on. s/b a nice Christmas for our "gassers" if this holds up.