Into the Vortex – Natural Gas Storage Outlook

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  • Author
    Posts
  • #19816
    TradersCom
    Keymaster

    Last week we saw the biggest draw of…

    [article]1356[/article]

    #19824
    Helmholtz Watson
    Participant

    CME Dropping Natural Gas Margin

    NY-NG 1 Mar’19

    Old Margin 3,600
    New Margin 2,750
    Margin Change -850

    Effective February 12, 2019

    All other months unchanged

    https://www.cmegroup.com/notices/clearing/2019/02/Chadv19-055.html#pageNumber=1

    #19829
    ClemSnide
    Participant

    About an hour prior IEA’s Birol

    Europe must use LNG to diversify its gas supplies
    … also
    – US shale very responsive to rising oil prices
    – Expansion of pipeline capacity will unleash more shale

    #19846
    TradersCom
    Keymaster

    Summary

    Working gas in storage was 1,882 Bcf as of Friday, February 8, 2019, according to EIA estimates. This represents a net decrease of 78 Bcf from the previous week. Stocks were 30 Bcf less than last year at this time and 333 Bcf below the five-year average of 2,215 Bcf. At 1,882 Bcf, total working gas is within the five-year historical range.

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