EIA Update on Natural Gas Storage
Posted: Wed Jul 30, 2014 10:26 am
Nearly midway through the summer storage injection season, working natural gas in storage is on pace to meet EIA's expectations for a record overall build. The current Short-Term Energy Outlook projects a record build of close to 2,600 billion cubic feet (Bcf) from the beginning of April through the end of October, which would put inventories at 3,431 Bcf at the end of October.
http://www.eia.gov/todayinenergy/archive.cfm?my=Apr2014
My take is that if storage level is ~3,500 when winter draws begin (over 300 bcf below last year's level at beginning of the heating season), we are going to see natural gas prices run up into year-end.
http://www.eia.gov/todayinenergy/archive.cfm?my=Apr2014
My take is that if storage level is ~3,500 when winter draws begin (over 300 bcf below last year's level at beginning of the heating season), we are going to see natural gas prices run up into year-end.