Into The Vortex – EIA Reports Natural Gas Storage Decreased 151Bcf Last Week

EIA reported a net withdrawal of -151Bcf from storage last week. There was a revision for weeks ending January 13 and January 20 from -91 Bcf to -86 Bcf. Stocks drew -261Bcf in the same week last year with a five-year (2017-2021) average decline of -181Bcf. Salt Dome Cavern stocks added -13Bcf from +3Bcf last week. Milder temperatures bring inventories back in line with the five-year and we have seen US benchmark HH Natural gas futures continue to be in … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Decreased 151Bcf Last Week”

Into The Vortex – US Natural Gas Stocks Fall -91Bcf Vs Five Year Average -185Bcf

Milder weather continues to ease the withdrawal from US natural gas storage, and therefore prices. EIA reported a net withdrawal of -91Bcf from storage last week. Stocks drew -217Bcf in the same week last year with a five-year (2017-2021) average decline of -185Bcf. Salt Dome Cavern stocks added +3Bcf from +12Bcf last week. Upcoming milder temperatures bring inventories back in line with the five-year and we have seen US benchmark HH Natural gas futures continue to be in the doldrums … Continue reading “Into The Vortex – US Natural Gas Stocks Fall -91Bcf Vs Five Year Average -185Bcf”

EIA Reports US Natural Gas Storage Fell -82Bcf as Expected Last Week

The EIA storage reported a net withdrawal of -82Bcf. Stocks drew -203 bcf in the same week last year with a five-year (2017-2021) average decline of -156 bcf. Salt Dome Cavern stocks added +12Bcf from +25Bcf last week. Upcoming milder temperatures bring inventories back in line with the five-year and we have seen US benchmark HH Natural gas futures continue to be in the doldrums testing lower lows. The previous week was the first build the US has recorded in … Continue reading “EIA Reports US Natural Gas Storage Fell -82Bcf as Expected Last Week”

EIA Reports Surprise Natural Gas Storage Build of 11Bcf with Milder Weather

The EIA storage reported as a build of +5Bcf with much milder weather following the arctic freeze, a draw of -15Bcf was the consensus. Stocks drew 157 bcf in the same week last year with a five-year (2017-2021) average decline of 157 bcf. Salt Dome Cavern stocks added +25Bcf from -53Bcf last week. Upcoming milder temperatures bring inventories back in line with the five-year and have seen US benchmark HH Natural gas futures continue to be in the doldrums. Natural … Continue reading “EIA Reports Surprise Natural Gas Storage Build of 11Bcf with Milder Weather”

Into The Vortex – EIA Reports Natural Gas Storage Drew -221Bcf After Arctic Freeze

In the last EIA storage release for the 2022 storage was reported as a draw of 221Bcf, much lower than expected. Salt Dome Cavern stocks drew -53Bcf from -17Bcf last week. Upcoming milder temperatures bring inventories back in line with the five-year and have seen US benchmark HH Natural gas futures continue to sell off. Natural gas futures continued to sell off in the new year in Europe, UK and the US on warmer weather and lower industrial demand to … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Drew -221Bcf After Arctic Freeze”

Into The Vortex – EIA Reports Natural Gas Storage Drew Down 213Bcf as Freezing Temperatures Arrived.

In the last EIA storage release for the year storage was reported as a draw of 213Bcf. Salt Dome Cavern stocks drew -17Bcf from +30Bcf last week. The winter solstice brought with it an Artic Blast with record lows seen which will be reflected in next week’s EIA report accounting for a record setting Arctic blast this past weekend, expect another deficit near minus-200Bcf. From there upcoming milder temperatures bring inventories back in line with the five-year and have seen … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Drew Down 213Bcf as Freezing Temperatures Arrived.”

Into The Vortex – Natural Gas Draws -87Bcf as Arctic Blast Hits the US

Ahead of the freezing temperatures EIA last week reported a less than expected draw of -87Bcf of working gas in storage last week. Salt Dome Cavern stocks grew +3Bcf from +10Bcf last week. The winter solstice brought with it an Artic Blast with record lows seen already. Natural gas futures are lower again, a case of buy the rumor, sell the fact. Production freeze-offs so far being offset by a spike in net imports from Canada, output may briefly drop … Continue reading “Into The Vortex – Natural Gas Draws -87Bcf as Arctic Blast Hits the US”

Into The Vortex – EIA Reports Natural Gas Storage Fell 50Bcf as Winter Storm Arrives

EIA reported a more than expected draw of -50Bcf of working gas in storage last week. Salt Dome Cavern stocks grew +10Bcf from +13Bcf last week. Ahead of the latest storage report natural gas futures found a bid overnight after having corrected over 10% last Friday’s surge after a colder shift in the weather-driven demand outlook.  Since then, models remain mixed, the latest overnight data maintained an arctic shot for next week through Dec. 26, but the pattern for Dec. … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Fell 50Bcf as Winter Storm Arrives”

EIA Reports Natural Gas Storage Drew -21Bcf as Warmer Weather Curtailed Demand

EIA reported a less than expected draw of -21Bcf of working gas in storage last week. Salt Dome Cavern stocks grew +13Bcf from -4Bcf last week. The storage report reflected the move in natural gas futures dropping sharply last week on a number of factors. GEFS and Euro Ens weather models lost 50 bcf demand each in 24 hrs. We had congress intervene in the Rail strikes and Freeport LNG again delay the expected restart of its export plant into … Continue reading “EIA Reports Natural Gas Storage Drew -21Bcf as Warmer Weather Curtailed Demand”

Into The Vortex – Natural Gas Storage -81Bcf as Rail Strikes and Cold Weather Loom

EIA reported a less than expected draw of -81Bcf of working gas in storage last week. Salt Dome Cavern stocks drew -4Bcf from -9Bcf last week. This week was the second withdrawal of the season as the US shifted into Holiday season and changing weather that comes. Natural gas futures have been volatile, moving up and down almost 10% on news of a potential rail strike and colder weather. Loss of rail supply means coal switching to power plants. The … Continue reading “Into The Vortex – Natural Gas Storage -81Bcf as Rail Strikes and Cold Weather Loom”