From Natural Gas Intelligence:
August Natural Gas Called Lower on Cooler Medium-Range, Production
8:56 AM
August natural gas futures were set to open Monday about 3.9 cents lower at around $2.885/MMBtu as the market continued to doubt whether there will be enough heat to drive prices higher in the face of surging production.
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By WxFollower - July 1, 2018, 10:45 p.m.
Forecast updates I saw earlier today vs Fri were cooler in week 1 through early week 2, but were warmer late week 2. Because the cooler changes were larger than the later warmer changes and because the cooler changes were earlier and thus more likely to verify, NG fell.
Go to this link for a comprehensive look at our latest weather:
https://www.marketforum.com/forum/topic/6696/
for week ending June 22, 2018 | Released: June 28, 2018 at 10:30 a.m. | Next Release: July 6, 2018
| Working gas in underground storage, Lower 48 states Summary textCSVJSN | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||||||||||||
| Stocks billion cubic feet (Bcf) | Year ago (06/22/17) | 5-year average (2013-17) | |||||||||||||||||||||||
| Region | 06/22/18 | 06/15/18 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
| East | 430 | 406 | 24 | 24 | 533 | -19.3 | 543 | -20.8 | |||||||||||||||||
| Midwest | 425 | 401 | 24 | 24 | 673 | -36.8 | 586 | -27.5 | |||||||||||||||||
| Mountain | 133 | 127 | 6 | 6 | 184 | -27.7 | 159 | -16.4 | |||||||||||||||||
| Pacific | 251 | 246 | 5 | 5 | 280 | -10.4 | 299 | -16.1 | |||||||||||||||||
| South Central | 835 | 828 | R | 7 | 7 | 1,140 | -26.8 | 988 | -15.5 | ||||||||||||||||
| Salt | 252 | 258 | -6 | -6 | 341 | -26.1 | 289 | -12.8 | |||||||||||||||||
| Nonsalt | 583 | 570 | R | 13 | 13 | 798 | -26.9 | 699 | -16.6 | ||||||||||||||||
| Total | 2,074 | 2,008 | R | 66 | 66 | 2,809 | -26.2 | 2,575 | -19.5 | ||||||||||||||||
| R=Revised. | |||||||||||||||||||||||||
****The reported revision caused the stocks for June 15, 2018, to change from 2,004 Bcf to 2,008 Bcf. As a result, the implied net change between the weeks ending June 08 and June 15 changed from 91 Bcf to 95 Bcf.
The period below and temperatures was used for the weekly EIA number released last Thursday at 9:30am CDT:
These are the temperatures that occurred during the 7 day period that will be used for the upcoming EIA report released this week:
Looking at the price of natural gas at longer and longer time frames gives one a different(wider) perspective.......breaking out to the downside today?
Natural gas 3 month
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Natural gas 1 year below
Natural gas 5 years below
| Natural gas 10 years below
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