Natural Gas Storage Report - April 30

[dan_s]

Working gas in storage was 1,710 Bcf as of Friday, April 24, 2015, according to EIA estimates. This represents a net increase of 81 Bcf from the previous week. Stocks were 741 Bcf higher than last year at this time and 75 Bcf below the 5-year average of 1,785 Bcf.

The cold nights this week in the Great Lakes area should reduce injections next week.

You should all take a look at the transcript from the RRC conference call, which starts off with some bullish stuff about natural gas supply/demand.

[dan_s]

Weather forecasting agency MDA Weather Services published that weather across the US will be warmer than normal in the first two weeks of May. Warmer temperatures increase the cooling demand. As a result, the demand for electricity increases. The rise in electricity demand increases the demand for natural gas for gas powered electric power stations. The temperatures in Washington and New York are more than 13% above normal temperatures, according to AccuWeather sources