Sun 12Z vs Fri 12Z;
GEFS +8
EPS +1
Thanks Larry!
My forecast is a bit warmer also. I'll guess we open a bit higher.
With natural gas............a prediction of a bit can end up being an understatement (-:
Looking the the price chart for Friday, it won't take much higher to be a gap higher.
Looks like 2.167 was the high on Friday.
Weather Sunday: Not quite as cool
https://www.marketforum.com/forum/topic/37632/
Weather Monday: Again, not quite as cool
https://www.marketforum.com/forum/topic/37674/
Weather Tuesday: About the same for temps
https://www.marketforum.com/forum/topic/37748/
Weather Wednesday: September/front month expires today! Watching Dorian.......looks to track much farther west!
https://www.marketforum.com/forum/topic/37474/
Weather Thursday: Warmer models, especially late. Watching Dorian.
https://www.marketforum.com/forum/topic/37909/
Weather Friday: Not much change......Dorian farther north.......up the East Coast. No threat to the Gulf.
https://www.marketforum.com/forum/topic/38009/
Weather Tuesday Sept.3: WARMER!!
https://www.marketforum.com/forum/topic/38270/
We did have a minuscule gap higher by 2 ticks but filled it immediately.
Now back close to where we were trading late Friday afternoon during the last hour.
Residential cooling demand via electricity generated by burning natural gas, is OVER a month passed its seasonal peak(based on historical averages). It's still the most important market trading item with potential for big changes because of changes in the weather forecast(cooling degree days). A hurricane in the Gulf at this time of year can also electrify the energy markets, even though production from this region is nothing like it was 15 years ago.
Seasonals have a strong tendency to bottom around the end of August! We might go lower with cooler weather and bearish fundamentals but prices are already very cheap down here as I mentioned last week and it will be hard to keep dropping to new lows.
We've had 3 dead cat bounces this Summer from heat waves in weather forecasts.
I should add that we are getting late enough in the cooling season, that the market will be placing less and less emphasis on temperatures. Extreme anomalies can still be powerful but outside of those there is a now a waning effect on prices.
Previous weekly discussions on natural gas here. WOW!
https://www.marketforum.com/forum/topic/37162/
https://www.marketforum.com/forum/topic/36053/
https://www.marketforum.com/forum/topic/35573/
https://www.marketforum.com/forum/topic/35104/
https://www.marketforum.com/forum/topic/34604/
https://www.marketforum.com/forum/topic/34053/
https://www.marketforum.com/forum/topic/33668/
https://www.marketforum.com/forum/topic/33132/
https://www.marketforum.com/forum/topic/32675/
https://www.marketforum.com/forum/topic/32177/
https://www.marketforum.com/forum/topic/31521/
https://www.marketforum.com/forum/topic/31099/
https://www.marketforum.com/forum/topic/30641/
https://www.marketforum.com/forum/topic/30007/
https://www.marketforum.com/forum/topic/29419/
https://www.marketforum.com/forum/topic/28858/
https://www.marketforum.com/forum/topic/28351/
https://www.marketforum.com/forum/topic/27780/
https://www.marketforum.com/forum/topic/27305/
https://www.marketforum.com/forum/topic/26861/
https://www.marketforum.com/forum/topic/26506/
https://www.marketforum.com/forum/topic/26105/
https://www.marketforum.com/forum/topic/25678/
https://www.marketforum.com/forum/topic/25189/
https://www.marketforum.com/forum/topic/24662/
for week ending August 16, 2019 | Released: August 22, 2019 at 10:30 a.m. | Next Release: August 29, 2019
Working gas in underground storage, Lower 48 states Summary textCSVJSN | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Historical Comparisons | |||||||||||||||||||||||||
Stocks billion cubic feet (Bcf) | Year ago (08/16/18) | 5-year average (2014-18) | |||||||||||||||||||||||
Region | 08/16/19 | 08/09/19 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
East | 660 | 634 | 26 | 26 | 608 | 8.6 | 689 | -4.2 | |||||||||||||||||
Midwest | 760 | 729 | 31 | 31 | 629 | 20.8 | 753 | 0.9 | |||||||||||||||||
Mountain | 168 | 164 | 4 | 4 | 153 | 9.8 | 182 | -7.7 | |||||||||||||||||
Pacific | 274 | 272 | 2 | 2 | 238 | 15.1 | 295 | -7.1 | |||||||||||||||||
South Central | 935 | 939 | -4 | -4 | 799 | 17.0 | 980 | -4.6 | |||||||||||||||||
Salt | 205 | 214 | -9 | -9 | 191 | 7.3 | 253 | -19.0 | |||||||||||||||||
Nonsalt | 730 | 725 | 5 | 5 | 609 | 19.9 | 727 | 0.4 | |||||||||||||||||
Total | 2,797 | 2,738 | 59 | 59 | 2,428 | 15.2 | 2,900 | -3.6 | |||||||||||||||||
Totals may not equal sum of components because of independent rounding. |
Working gas in storage was 2,797 Bcf as of Friday, August 16, 2019, according to EIA estimates. This represents a net increase of 59 Bcf from the previous week. Stocks were 369 Bcf higher than last year at this time and 103 Bcf below the five-year average of 2,900 Bcf. At 2,797 Bcf, total working gas is within the five-year historical range.
For information on sampling error in this report, see Estimated Measures of Sampling Variability table below.
Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2014 through 2018. The dashed vertical lines indicate current and year-ago weekly periods.
+59 BCF =Neutral
Latest Release Aug 22, 2019 Actual59B Forecast60B Previous49B
https://www.investing.com/economic-calendar/natural-gas-storage-386
Release Date | Time | Actual | Forecast | Previous | |
---|---|---|---|---|---|
Aug 22, 2019 | 10:30 | 59B | 60B | 49B | |
Aug 15, 2019 | 10:30 | 49B | 58B | 55B | |
Aug 08, 2019 | 10:30 | 55B | 59B | 65B | |
Aug 01, 2019 | 10:30 | 65B | 57B | 36B | |
Jul 25, 2019 | 10:30 | 36B | 37B | 62B | |
Jul 18, 2019 | 10:30 | 62B | 65B | 81B |
7 day temperatures that went into last Thursdays report: Still very warm in much of the country. A bit cool southcentral.
7 day temps for this Thursdays report. Very warm in the southern 2/3rds of the country!
Smallish injection based on previous weeks for late August.
August 26 update:
The dominant imposing factor for prices this year has been massive, record large injections that have increased supplies faster than any time in history and crushed prices.
We got a bounce in late May from intense heat in the Southeast.
Then the first 2 weeks of July, featured increasing heat in the extended forecasts, so natural got a huge lift. Cooler forecasts after that sent prices crashing back to life of contract lows in late July/early August.
Heat returning helped us to bounce again from those lows earlier this month to last Thursday..........when the forecast turned cooler again.
The market will be reacting to changes in the cooling degree day forecasts for a little while longer........... but the affects are dwindling with the waning Summer. Widespread, sustained heat can still give us a nice rebound.
Cash prices have been below $2 at times, so it's possible that we can still go lower than this but prices right now are pretty low historically, even considering the bearish fundamentals. Also, historically, natural gas has often put in a bottom during the upcoming time frame.
Price charts suggest a potential, short term bottom.
NG 7 days
Natural gas 3 months below
This seasonal price chart below is for 2 decades, ending back in 2009.
We should note from this chart that prices often bottom in late August. With prices this cheap/low its possible that natural gas may look to put in some sort of a bottom, even with bearish factors longer term pressuring prices.
Natural Gas Intelligence after the close on Monday:
Technicals, Strong Cash Aid in Sharp Rally for Natural Gas Futures
5:22 PM
Fundamentals were relatively steady Monday, but some technical influences ahead of natural gas futures expiration helped drive prices considerably higher to start the week. With solid gains in the cash market as well, the September Nymex gas contract jumped 7.8 cents to settle Monday at $2.230/MMBtu. October rose 7.7 cents to $2.233.
NGI closing comments Tuesday:
Natural Gas Futures Retrace as Long-Range Weather Outlooks Cool; Cash Mixed
5:17 PM
A price rally driven largely by short-covering failed to hold up on Tuesday as weaker cash prices and generally stable fundamentals drove natural gas futures lower. With bidweek volatility on full display, the September Nymex gas contract settled 2.8 cents lower at $2.202/MMBtu, and October dropped 4.1 cents to $2.192
By metmike - Aug. 28, 2019, 10:36 a.m.
Grant,
I apologize for completely overlooking this but NGU, the front month expires today.
The day before and the day of expiration of ng front month futures is noted for wild spikes.
I assume that because volume is down to almost nothing and the remainder of the longs/shorts are forced out. The spike can often be against a long lived trend, maybe because those are the ones left.
Volume right now in the Oct contract is approaching 60K while its still below 4K in the expiring Sept contract.
From NGI Wed morning: Weather Outlook ‘Singularly’ Neutral as Natural Gas Futures Called Higher
"08/28 02:03p CST DJ Natural Gas Prices Rise on Storage, Hurricane -- Market Talk 15:03 ET - Natural gas prices rise to a one-month high, ending with a gain of 2.2% to $2.2510/mmBtu on expectations for a below-normal rise in weekly inventories, and as a hurricane continues to barrel toward the US. The EIA reports weekly gas inventories Thursday, and a WSJ survey sees an average forecast for a 56-bcf rise, which would be a bit less than the 57-bcf average and reflect a heatwave in Texas and other southern states last week that increased power burn. Meantime, Dorian was upgraded to a hurricane from tropical storm, and could this weekend hit parts of the Gulf of Mexico and force some oil and gas production facilities to halt production. (dan.molinski@wsj.com)"
Thanks Larry,
After Dorian shifted much farther west into the GOM on the ensembles, ng went DOWN.
There is little doubt in my mind that the September contract expiring is what caused the spike higher earlier on.
We can hold some gains from hurricane premium but I think ng may have already been bottoming...........though the EIA report out tomorrow could shift that mentality.
Mike,
I agree with you. Inconsistent news reporting based on unreliable or nonobjective sources. For Barry, the reports in advance of the storm were that Barry would be net bearish although that ended not being the case after all was said and done. Why wouldn't Dorian be the same way? I think there was a report afterward of it being net bullish. So, who knows?
The more interesting one here is actually the RB market with all the refineries along the W.Gulf Coast.
This is an old article but I think those refineries are still there.
https://www.eia.gov/todayinenergy/detail.php?id=7170
Closing comments Wednesday from Natural Gas Intelligence(no mention of the hurricane, which makes sense because it actually traded in the opposite direction of hurricane forecasts):
September Natural Gas Expires Nickel Higher on Push from Technicals, Cash
5:23 PM
Speculators with net short positions set the stage for a natural gas price rally on Wednesday as the September Nymex futures contract rolled off the board, with a drop in production solidifying the momentum. September surged as high as $2.277/MMBtu before going on to expire at $2.251, up 4.9 cents on the day. October, which takes over the prompt position on Thursday, rose 3.0 cents to $2.222.
I showed this graphic with Barry and here it is with Dorian. My system will only give me ensembles out to 144 hours but the area I have outlined in Yellow is where many ensemble members take Dorian. If this is correct we would likely be seeing a cat 3 or higher move over all those platforms.
Great graphic Grant.
The market disagrees with that forecast right now.
Otherwise, we would likely be much higher than this.
If the US models get aggressive with the strength of this hurricane and aim it into that area with a cat. 3 or higher, ng should get a pretty good pop but so will the liquid energies.
If the hurricane threatens to clobber refineries along and close to the Western Gulf coast, gasoline can really spike higher.
I'm not sure how much of a pop we can get out of cotton. We need rains in the Southeast, so anything less than 3-4+ inches will probably be beneficial. Last Fall, bolls were open in Oct and heavy rains did tremendous damage. Bolls are not open and soils are dry/the crop needs rain bad.
High winds would do some damage of course if Dorian would have an intensity like Michael, which is not forecast right now...........but its a hurricane and look much different in a couple of days.
I think crossing over FL weakens it too much but maybe if it crossed farther south over FL, it would have a better chance to become a major hurricane with more time in the GOM.
for week ending August 23, 2019 | Released: August 29, 2019 at 10:30 a.m. | Next Release: September 5, 2019
Working gas in underground storage, Lower 48 states Summary text CSV JSN | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Historical Comparisons | |||||||||||||||||||||||||
Stocks billion cubic feet (Bcf) | Year ago (08/23/18) | 5-year average (2014-18) | |||||||||||||||||||||||
Region | 08/23/19 | 08/16/19 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
East | 682 | 660 | 22 | 22 | 633 | 7.7 | 712 | -4.2 | |||||||||||||||||
Midwest | 790 | 760 | 30 | 30 | 664 | 19.0 | 783 | 0.9 | |||||||||||||||||
Mountain | 173 | 168 | 5 | 5 | 156 | 10.9 | 185 | -6.5 | |||||||||||||||||
Pacific | 278 | 274 | 4 | 4 | 240 | 15.8 | 297 | -6.4 | |||||||||||||||||
South Central | 934 | 935 | -1 | -1 | 801 | 16.6 | 980 | -4.7 | |||||||||||||||||
Salt | 199 | 205 | -6 | -6 | 188 | 5.9 | 248 | -19.8 | |||||||||||||||||
Nonsalt | 736 | 730 | 6 | 6 | 612 | 20.3 | 732 | 0.5 | |||||||||||||||||
Total | 2,857 | 2,797 | 60 | 60 | 2,494 | 14.6 | 2,957 | -3.4 | |||||||||||||||||
Totals may not equal sum of components because of independent rounding. |
Working gas in storage was 2,857 Bcf as of Friday, August 23, 2019, according to EIA estimates. This represents a net increase of 60 Bcf from the previous week. Stocks were 363 Bcf higher than last year at this time and 100 Bcf below the five-year average of 2,957 Bcf. At 2,857 Bcf, total working gas is within the five-year historical range.
For information on sampling error in this report, see Estimated Measures of Sampling Variability table below.
Latest Release Aug 29, 2019 Actual60B Forecast57B Previous59B
https://www.investing.com/economic-calendar/natural-gas-storage-386
Release Date | Time | Actual | Forecast | Previous | |
---|---|---|---|---|---|
Aug 29, 2019 | 10:30 | 60B | 57B | 59B | |
Aug 22, 2019 | 10:30 | 59B | 60B | 49B | |
Aug 15, 2019 | 10:30 | 49B | 58B | 55B | |
Aug 08, 2019 | 10:30 | 55B | 59B | 65B | |
Aug 01, 2019 | 10:30 | 65B | 57B | 36B | |
Jul 25, 2019 | 10:30 | 36B | 37B | 62B |
Natural Gas Intelligence midday:
EIA Reports ‘Quite Bearish’ 60 Bcf Injection; October Natural Gas Trims Gains
The latest ensembles have shifted farther east taking the western Gulf out of play with Dorian. I’ll post some graphics when I get to work in the Dorian thread.
Thanks Grant, we look forward to that.
I did notice a slight shift to the right in the track of the GFS ensembles.
Natural gas, I believe is trading the warmer weather models in week 2............and seasonality of this being the time frame for short term lows as well as very low prices(technically, one can make a good case for the lows to be in too)
Aggressive selling when the price gets down towards $2 at this time of year doesn't have a great deal of potential.
Big chance from the 12Z ensembles yesterday which took Dorian much farther west. You can see only one ensemble member moves Dorian towards the platforms in the Gulf.
Thanks for sharing that with us Grant!
NGI after the close: October NatGas Jumps Another 7-Plus Cents as Traders Eye Dorian; Cash Mostly Lower
Am thinking that the market is pretty confident that Dorian is not going to affect production in the Gulf and the big price jump today was not hurricane premium.
My guess is that its from the warmer weather models, especially the European ensembles late in the extended, along with positive seasonals, low prices and technical/chart pattern that suggests a possible bottom. The bearish EIA report had the chance to push us lower but there was strong buying support when we dropped close to 2.25
I thought personally it was getting too high. I set a sell price for October @ 2.30. Got it during the late morning and was able to close it this afternoon for a decent gain.
Great trade Grant!
Interesting that NGI, after yesterday's sharp rally, mentioned traders eyeing Dorian, today tell us that we are lower because of traders seeing Dorian as bearish from demand destruction.
Dorian's affects have not changed.
NGI and others, as Larry and I have discussed, need to have an explanation for why prices went up or down and this one was it...............but not the right one.
Sometimes, especially when we are no longer in the middle of the heating or cooling season and temperatures are not anomalous, the reason for price movement on some days is not clear at all.
Maybe its a hangover from yesterdays bearish EIA and the drop today is very small with us still holding key support, so some profit taking.
It's probably not from BIG changes in CDD's as those were mixed with the last US model being bearish but the other ones bullish overnight.
Extremely Dangerous’ Dorian Threatening Florida; Natural Gas Futures Called Lower
8:59 AM
With Hurricane Dorian looking “extremely dangerous,” natural gas futures were trading slightly lower early Friday as the latest path for the storm raised the prospect of demand destruction. The October Nymex futures contract was down 2.0 cents to $2.276/MMBtu shortly after 8:40 a.m. ET.
Natural Gas Intelligence after the close on Tuesday:
As Dorian Looms, Natural Gas Futures and Cash Mount Post-Holiday Rally
Supportive forecasts, the prospect of limited demand impacts from Hurricane Dorian and strength in the spot market all aided in a post-holiday natural gas futures rally Tuesday. The October Nymex futures contract climbed 7.3 cents to settle at $2.358/MMBtu, while November settled at $2.397, also up 7.3 cents.
Wed AM:
Natural Gas Markets Escaping Dorian’s Wrath So Far as Futures Called Higher
metmike: Heat in south is bullish
NGI after the close on Wednesday:
‘Textbook Short Covering’ Extends Natural Gas Rally
Natural gas futures rallied decisively for a second straight session Wednesday, putting bears on the run as the market begins to look ahead to winter. After picking up more than 7 cents a day earlier, the October Nymex futures contract surged another 8.7 cents to settle at $2.445/MMBtu. November added 9.5 cents to settle at $2.492.
+84 BCF Bearish!
for week ending August 30, 2019 | Released: September 5, 2019 at 10:30 a.m. | Next Release: September 12, 2019
Working gas in underground storage, Lower 48 states Summary text CSV JSN | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Historical Comparisons | |||||||||||||||||||||||||
Stocks billion cubic feet (Bcf) | Year ago (08/30/18) | 5-year average (2014-18) | |||||||||||||||||||||||
Region | 08/30/19 | 08/23/19 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
East | 714 | 682 | 32 | 32 | 656 | 8.8 | 735 | -2.9 | |||||||||||||||||
Midwest | 827 | 790 | 37 | 37 | 697 | 18.7 | 816 | 1.3 | |||||||||||||||||
Mountain | 177 | 173 | 4 | 4 | 161 | 9.9 | 188 | -5.9 | |||||||||||||||||
Pacific | 276 | 278 | -2 | -2 | 245 | 12.7 | 300 | -8.0 | |||||||||||||||||
South Central | 947 | 934 | 13 | 13 | 799 | 18.5 | 985 | -3.9 | |||||||||||||||||
Salt | 197 | 199 | -2 | -2 | 184 | 7.1 | 247 | -20.2 | |||||||||||||||||
Nonsalt | 749 | 736 | 13 | 13 | 615 | 21.8 | 738 | 1.5 | |||||||||||||||||
Total | 2,941 | 2,857 | 84 | 84 | 2,558 | 15.0 | 3,023 | -2.7 | |||||||||||||||||
Totals may not equal sum of components because of independent rounding. |
Working gas in storage was 2,941 Bcf as of Friday, August 30, 2019, according to EIA estimates. This represents a net increase of 84 Bcf from the previous week. Stocks were 383 Bcf higher than last year at this time and 82 Bcf below the five-year average of 3,023 Bcf. At 2,941 Bcf, total working gas is within the five-year historical range.
Release Sep 05, 2019 Actual84B Forecast78B Previous60B
https://www.investing.com/economic-calendar/natural-gas-storage-386
Release Date | Time | Actual | Forecast | Previous | |
---|---|---|---|---|---|
Sep 05, 2019 | 10:30 | 84B | 78B | 60B | |
Aug 29, 2019 | 10:30 | 60B | 57B | 59B | |
Aug 22, 2019 | 10:30 | 59B | 60B | 49B | |
Aug 15, 2019 | 10:30 | 49B | 58B | 55B | |
Aug 08, 2019 | 10:30 | 55B | 59B | 65B | |
Aug 01, 2019 | 10:30 | 65B | 57B | 36B |
NGI after the close on Thursday:
Natural Gas Bulls Absorb Blow From Hefty Injection
5:07 PM
Natural gas futures bulls, riding high on recent gains, absorbed a blow from a larger-than-expected weekly storage injection Thursday but regrouped to keep prices steady. After trading as low
NGI after the close on Monday:
Warm Forecast Helps Extend Short-Covering Rally as Natural Gas Futures Keep Climbing
5:43 PM
Warmer forecast trends over the weekend added fuel to the recent short-covering rally Monday as natural gas futures extended their run higher. The October Nymex futures contract surged 8.9 cents to settle at $2.585/MMBtu, while November picked up 7.4 cents to settle at $2.625.
Hey Mike,
To have this much of a rally from increased CDDs this late in the season is quite impressive. I even had already stopped closely following the modeled changes in CDDs It just shows how incredibly and persistently warm it has been and still is in the US as a whole! I may restart my CDD watch.
Extremely impressive Larry!
metmike: Still hot but the rally has come a long way and the forecast time frame is looking at late September, when cooling degree days continue to fall seasonally.
NGI Tue close:
Early Natural Gas Futures Rally Fizzles; Late-Season Heat ‘Remains Bullish’
5:24 PM
Coming off big gains the previous two sessions, natural gas futures stalled Tuesday as a rally in the early morning hours quickly lost steam. The October Nymex contract settled at $2.580/MMBtu, off 0.5 cents after trading as high as $2.648. November also fell 0.5 cents to settle at $2.620.
More ‘Outsized Builds’ Expected as Natural Gas Futures Bulls Losing Momentum
5:19 PM
With another hefty weekly inventory build expected this week, and with analysts pointing to a possible end to the recent short-covering rally, natural gas futures declined at the front of the curve for a second straight session Wednesday. The October Nymex contract settled 2.8 cents lower at $2.552/MMBtu, while November dropped 3.1 cents to $2.589
metmike: Late week 2 and late Sept maps have potential for a huge pattern change to MUCH cooler. Even the potential for a freeze in the Midwest.
Also, potential tropical storm Humberto could threaten the Gulf. If it turns into a hurricane, potential production shut ins can be more bullish to the market price than the reality of the supply losses.
EIA +78 BCF a bit bullish vs expectations
Working gas in underground storage, Lower 48 states Summary text CSV JSN | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Historical Comparisons | |||||||||||||||||||||||||
Stocks billion cubic feet (Bcf) | Year ago (09/06/18) | 5-year average (2014-18) | |||||||||||||||||||||||
Region | 09/06/19 | 08/30/19 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
East | 739 | 714 | 25 | 25 | 676 | 9.3 | 756 | -2.2 | |||||||||||||||||
Midwest | 864 | 827 | 37 | 37 | 729 | 18.5 | 848 | 1.9 | |||||||||||||||||
Mountain | 183 | 177 | 6 | 6 | 165 | 10.9 | 191 | -4.2 | |||||||||||||||||
Pacific | 275 | 276 | -1 | -1 | 249 | 10.4 | 303 | -9.2 | |||||||||||||||||
South Central | 958 | 947 | 11 | 11 | 805 | 19.0 | 997 | -3.9 | |||||||||||||||||
Salt | 199 | 197 | 2 | 2 | 182 | 9.3 | 251 | -20.7 | |||||||||||||||||
Nonsalt | 759 | 749 | 10 | 10 | 623 | 21.8 | 746 | 1.7 | |||||||||||||||||
Total | 3,019 | 2,941 | 78 | 78 | 2,626 | 15.0 | 3,096 | -2.5 | |||||||||||||||||
Totals may not equal sum of components because of independent rounding. |
Working gas in storage was 3,019 Bcf as of Friday, September 6, 2019, according to EIA estimates. This represents a net increase of 78 Bcf from the previous week. Stocks were 393 Bcf higher than last year at this time and 77 Bcf below the five-year average of 3,096 Bcf. At 3,019 Bcf, total working gas is within the five-year historical range.
For information on sampling error in this report, see Estimated Measures of Sampling Variability table below.
Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2014 through 2018. The dashed vertical lines indicate current and year-ago weekly periods.
https://www.investing.com/economic-calendar/natural-gas-storage-386
Latest Release Sep 12, 2019 Actual78B Forecast82B Previous
Release DateTimeActualForecastPrevious
Sep 19, 2019 10:30
Sep 12, 2019 10:30 78B 82B 84B
Sep 05, 2019 10:30 84B 78B 60B
Aug 29, 2019 10:30 60B 57B 59B
Aug 22, 2019 10:30 59B 60B 49B
Aug 15, 2019 10:30 49B 58B 55B
NGI: Spooky Friday the 13th for Bears as Natural Gas Futures Finish Week Strong
5:44 PM
It was probably something other than superstition that had bears fleeing the natural gas futures market Friday even as analysts continued to point to oversupply conditions. The October Nymex contract rallied 4.0 cents to settle at $2.614/MMBtu. November surged 4.8 cents to $2.653.
metmike: The midday models looked pretty warm to hot and that likely gave ng a big boost but we are getting so late in the cooling season and have rallied so far, that it's going to get pretty tough to make new highs........although the EIA report was bullish.