Thursday Night Gas Storage Review


Natural Gas traded up $0.057 to close at $11.697 Thursday after the EIA reported an injection of 85 Bcf for last week, inline with consensus expectations. The flattish to slightly positive move for once bucked the day's move in crude which saw modest profit taking after hitting another all time high early in the market. 


Not much to say about where prices are going in relation to storage except that when / if you see the slope of the green wedge below (2008 cumulative storage rebuild) start to exceed that of the light blue wedge (2007's cum.) gas' should soften or at least decelerate. More depends the direction of crude right now unless gas starts posting some obviously bloated supply side injections. This is especially true as hurricane season approaches and all the hype and hysteria that accompanies each storm or modest breeze that approaches the Gulf of Mexico.





2 Responses to “Thursday Night Gas Storage Review”

  1. 1
    gaamblor Says:

    do you have any data on canadian storage? are they producing that much leses or consuming more?

  2. 2
    zman Says:

    I watch this for Canadian storage:


    the dip in the chart was caused by higher winter demand this past winter in Canada and the U.S. – production is not falling off a cliff up there but I don’t have good recent data.

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