Articles filed under Natural Gas Storage

Natural gas futures pushed higher Thursday after the U.S. Energy Information Administration (EIA) reported a rare summer withdrawal of 6 Bcf from storage for the week ended Aug. 9.

Natural gas futures rallied five out of six sessions leading into Wednesday in large part because of expectations for a paltry storage print this week.

For the fourth consecutive week, underground supplies of natural gas in storage in the South Central dwindled, bucking seasonal norms as every other region injected excess fuel into underground stocks.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 21 Bcf natural gas into storage for the week ended Aug. 2. The result, slightly below expectations, came despite a jump in renewable power that threatened a bearish miss.

Production soared to record levels in Canada and intersected with a relatively mild winter earlier this year. This left the country with robust supply and weak natural gas prices. It also resulted in elevated levels of exports to the Lower 48, where buyers capitalized on relatively low-cost gas.

Pacific inventories of underground natural gas remain elevated relative to historical norms – but far less so than any other region.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 18 Bcf natural gas into storage for the week ended July 26. The result, below expectations, kicked off a tug-of-war between natural gas futures bulls and bears.

Natural gas futures fell further in early trading Friday as the market continued to mull a larger-than-expected inventory build and signs of returning production volumes.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 22 Bcf natural gas into storage for the week ended July 19. The result exceeded market expectations and kept pressure on Nymex natural gas futures.

Natural gas futures hovered close to even early Thursday as the market prepared for the release of a government inventory report expected to show another weak injection of supply into underground storage.