EIA Natural Gas Inventories Preview

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    Natural gas futures had another listless week after…



    Jeremy Thompson @oldinvestor
    Replying to @Ronh999 @TradersCom and 10 others
    Haha, I vote this one. I’m almost willing to layer on another short for this. Almost =)


    Working gas in storage was 2,074 Bcf as of Friday, June 22, 2018, according to EIA estimates. This represents a net increase of 66 Bcf from the previous week. Stocks were 735 Bcf less than last year at this time and 501 Bcf below the five-year average of 2,575 Bcf. At 2,074 Bcf, total working gas is within the five-year historical range.


    The IEA Gas 2018 report this week says rising supplies from the US, rising demand in China and greater global industrial demand “will transform global natural gas markets” over the next five years.

    -Predicted worldwide gas demand will grow at an average rate of 1.6 percent a year.
    -Demand should reach just above 4,100 Bcm in 2023, up from 3,740 Bcm in 217.
    -Chinese gas demand is forecast to grow by 60 percent between 2017 and 2023.

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