The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: thackney on April 30, 2018, 03:05:47 pm
-
Will The Injection Season In Natural Gas Ever Arrive?
https://seekingalpha.com/article/4166933-will-injection-season-natural-gas-ever-arrive
Apr.30.18
The withdrawal season started early and is ending very late this year.
We have not seen the first injection, and it is almost May.
The lowest stocks in three years.
A weak attempt at a rally.
Is combustible natural gas biding its time before a price explosion or is the market betting on a quick fill?
On Thursday, April 26, the Energy Information Administration reported that stockpiles of natural gas dropped by a total of 18 billion cubic feet for the week ending on April 20, 2018. 17 of the 18 bcf decline came from the Midwest region of the United States where a continuation of late winter conditions kept the demand for heating high. Total stocks stand at 1.281 trillion cubic feet which are 41.2% below last year's level and 29.1% below the five-year average for this time of the year. Stockpiles of natural gas are going into the injection season, if it ever arrives, at a very low level in 2018.
The price of the new active month NYMEX June natural gas futures contract posted a marginal gain after the release of the latest inventory data. Over past weeks, stocks have continued to decline even winter turned to spring, but the price action in the energy commodity has been remarkably tame given such bullish stockpile data. We went into the winter season last November with the lowest level of stocks in three years, and we are emerging with the same. However, other than a brief rally to $3.661 per MMBtu in late January, the price has not done much on the upside during the season of peak demand....
-
Weekly Natural Gas Storage Report
http://ir.eia.gov/ngs/ngs.html (http://ir.eia.gov/ngs/ngs.html)
April 26, 2018
Working gas in storage was 1,281 Bcf as of Friday, April 20, 2018, according to EIA estimates. This represents a net decrease of 18 Bcf from the previous week. Stocks were 897 Bcf less than last year at this time and 527 Bcf below the five-year average of 1,808 Bcf. At 1,281 Bcf, total working gas is within the five-year historical range.
(http://ir.eia.gov/ngs/ngs.gif)
-
This all seems ominous to me.
-
This all seems ominous to me.
Next report is on Thursday. Winter lasted a long time for a lot of places this year. It has been lower at this point of the year before, but was already starting back up at that point as well.
-
This all seems ominous to me.
@IsailedawayfromFR
New report shows gas finally being added to storage.
(http://obit.carnesfuneralhome.com/leslie-ray-charping)
The link above was auto updated. To find the actual data: http://ir.eia.gov/ngs/ngs.html (http://ir.eia.gov/ngs/ngs.html)
-
@IsailedawayfromFR
New report shows gas finally being added to storage.
(http://obit.carnesfuneralhome.com/leslie-ray-charping)
The link above was auto updated. To find the actual data: http://ir.eia.gov/ngs/ngs.html (http://ir.eia.gov/ngs/ngs.html)
guess warmer temp are finally here