From Natural Gas Intelligence:
Weather-Driven Demand Seen Easing Slightly as November Natural Gas Called Lower
For weather that effects the natural gas market for residential heating demand:
Storage is Very Low for this time of year!!
Storage is below the bottom of the previous 5 year range and over 600 bcf below last year at this time!
This is why the temperature forecast matters....in the Summer/cooling season and Winter/heating season. We have a spike up of early season residential heating demand this week into next week.
EIA report from last Thursday +90 bcf
Reported as neutral to the market(I thought is was a tad bearish)
| Working gas in underground storage, Lower 48 states Summary textCSVJSN | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||||||||||||
| Stocks billion cubic feet (Bcf) | Year ago (10/05/17) | 5-year average (2013-17) | |||||||||||||||||||||||
| Region | 10/05/18 | 09/28/18 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
| East | 790 | 763 | 27 | 27 | 881 | -10.3 | 869 | -9.1 | |||||||||||||||||
| Midwest | 871 | 836 | 35 | 35 | 1,019 | -14.5 | 1,004 | -13.2 | |||||||||||||||||
| Mountain | 180 | 177 | 3 | 3 | 223 | -19.3 | 210 | -14.3 | |||||||||||||||||
| Pacific | 262 | 262 | 0 | 0 | 314 | -16.6 | 340 | -22.9 | |||||||||||||||||
| South Central | 854 | 829 | 25 | 25 | 1,146 | -25.5 | 1,139 | -25.0 | |||||||||||||||||
| Salt | 191 | 181 | 10 | 10 | 309 | -38.2 | 300 | -36.3 | |||||||||||||||||
| Nonsalt | 663 | 648 | 15 | 15 | 836 | -20.7 | 840 | -21.1 | |||||||||||||||||
| Total | 2,956 | 2,866 | 90 | 90 | 3,583 | -17.5 | 3,563 | -17 | |||||||||||||||||
These are the temperatures that were used for last weeks report.
These were the temperatures that will be used for this Thursday's EIA report. Take a good look at that map. You don't see anomaly maps with such extremes in magnitude too often.
Natural Gas price charts
We finally broke out above $3!
A lot of volatility with the low storage. Prices have been gyrating up and down with the latest weather forecast............Monday was up as cold was added to the extended forecast.........lasting into early November.
| Natural gas 3 months |
Naturalgas 1 year below
Naturalgas 5 years below
| Naturalgas10years below
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