05
Jun

Thursday Night Gas Storage Review

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Natural Gas closed up $0.19 at $12.57 after the EIA reported an injection into gas storage of 105 Bcf. I was at 100 Bcf and so was the Street and the delta is rounding error. Stocks remain low to last year and in line with the five year average. Gas price momentum remains to the upside despite rising production ... same story different week. 

 

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The Shoulder Season Came And Went Unnoticed. Injections to storage have been hampered by tepid imports, a fast transition from cold to hot weather, and higher exports. This is not an auspicious beginning to the injection season but the Monday Post outlines rising domestic production and this combined with a resumption of volumes from the Independence Hub may begin to draw the green and blue wedges into sync ...

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... and should yield an end season number between 3.1 and 3.3 Tcf which is essentially full.

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3 Responses to “Thursday Night Gas Storage Review”

  1. 1
    jazzkool Says:

    Z, was out yesterday. Market up in premarket? Reaction?

    Jazz

  2. 2
    Nicky Says:

    More shameless ramping by Morgan Stanley – even as they come under scrutiny!

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aV2ZR71o4rUQ&refer=home

  3. 3
    Zman’s Energy Brain ~ oil, gas, stocks, etc… » Blog Archive » TGIF – Please Sir May I Have Another?! Says:

    […] Thursday Night Gas Storage Review […]

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