Natural Gas Storage Report - August 6
Posted: Thu Aug 06, 2015 11:08 am
Working gas in storage was 2,912 Bcf as of Friday, July 31, 2015, according to EIA estimates. This represents a net increase of 32 Bcf from the previous week. Stocks were 535 Bcf higher than last year at this time and 64 Bcf above the 5-year average of 2,848 Bcf.
I think we see natural gas over $3.00/mcf by the end of September.
If gas in storage goes below the 5-year average, we will see gas over $3.50/mcf by end of November.
BTW U.S. natural gas production is now falling by at least 300 million cubic feet per day month after months. See link below.
http://www.eia.gov/petroleum/drilling/#tabs-summary-2
I think we see natural gas over $3.00/mcf by the end of September.
If gas in storage goes below the 5-year average, we will see gas over $3.50/mcf by end of November.
BTW U.S. natural gas production is now falling by at least 300 million cubic feet per day month after months. See link below.
http://www.eia.gov/petroleum/drilling/#tabs-summary-2