EIA - Natural Gas Storage Report - April 22

[dan_s]

Working gas in storage was 1,883 Bcf as of Friday, April 16, 2021, according to EIA estimates.
This represents a net increase of 38 Bcf from the previous week. < Lower than expected.
Stocks were 251 Bcf less than last year at this time and 12 Bcf above the five-year average of 1,871 Bcf.
At 1,883 Bcf, total working gas is within the five-year historical range.

Thanks to the recent cold snap, the next storage report for the week ending April 23 should be way below the 5-year average build of 64 Bcf. The 5-year average build for the week ending April 30 is 78 Bcf. On April 30 storage should be 50 to 70 Bcf below the 5-year average.

As long as LNG exports remain close to capacity, the weekly builds going forward should be below the 5-year average.

[Fraser921]

The gassy stocks start to release numbers next week.

First up is Range Resources RRC:

(RRC) announced today that its first quarter 2021 financial results news release will be issued Monday, April 26 after the close of trading on the New York Stock Exchange.

A conference call to review the financial results is scheduled on Tuesday, April 27 at 9:00 a.m. ET (8:00 a.m. CT). A webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company's website until May 27, 2021.

[dan_s]

Trading Economics:
"NYMEX natural gas futures were trading around the $2.77/MMBtu level in the third week of April, a level not seen in more than a month, as forecasts for cooler weather and higher heating demand this week lent optimism to gas bulls. On top of that, a smaller than expected increase in the amount of natural gas in storage, record exports and a recent decline in production kept sentiment elevated."