Working gas in storage was 2,625 Bcf as of Friday, April 29, 2016, according to EIA estimates. This represents a net increase of 68 Bcf from the previous week. Stocks were 861 Bcf higher than last year at this time and 836 Bcf above the five-year average of 1,789 Bcf. At 2,625 Bcf, total working gas is above the five-year historical range.
Gas in storage will continue to build until HOT summer weather arrives and demand from gas fired power plants increases.
I'm expecting natural gas prices to hover around $2.00 through June, then ramp up to around $3.00 by year-end.
Natural Gas Storage Report - May 5
Natural Gas Storage Report - May 5
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group