landowner

natural gas inventories supply up 99 BCF week ending May 10-----Injection Season in Full Swing

                         

SAN FRANCISCO (MarketWatch) -- Losses in natural-gas futures worsened on Thursday after the U.S. Energy Information Administration reported a rise of 99 billion cubic feet in U.S. inventories for the week ended May 10. Analysts polled by Platts forecasted a climb of between 93 billion cubic feet and 97 billion cubic feet. Total stocks now stand at 1.964 trillion cubic feet, down 694 billion cubic feet from the year-ago level and 83 billion cubic feet below the five-year average, the government said. June natural gas     (ngm13)   was at $3.94 per million British thermal units, down 13 cents, or 3.2%. It was trading at $4.01 shortly before the data

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Permalink Reply by dingojoe on May 16, 2013 at 5:12

Right now, it looks like NG supply will catch up to the 5 yr average in about 4 weeks.  If prices don't come down enough (like 3.25) then NG won't pick up enough power burn and supply will  catch up to last year's number around Labor day. 


landownerPermalink Reply by adubu on May 16, 2013 at 5:39

all in the weather for present time--- hot summer could change inventories --- production  will continue  to slowly increase with present drilling cap-ex plans

Permalink Reply by dingojoe on May 16, 2013 at 6:19

Last two summers have been very hot, and I'm assuming another very hot one.  If it's merely just hot, then you could be looking at storage going over 4,000 in the fall and another round of chaos.

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