Thursday, December 11, 2014

U.S. Weekly Natural Gas Storage Report for November 28, 2014

Working gas in underground storage

Working gas in storage was 3,410 Bcf as of Friday, November 28, 2014, according to EIA estimates. This represents a net decline of 22 Bcf from the previous week. Stocks were 227 Bcf less than last year at this time and 372 Bcf below the 5-year average of 3,782 Bcf. In the East Region, stocks were 183 Bcf below the 5-year average following net withdrawals of 34 Bcf. Stocks in the Producing Region were 145 Bcf below the 5-year average of 1,247 Bcf after a net injection of 11 Bcf. Stocks in the West Region were 44 Bcf below the 5-year average after a net addition of 1 Bcf. At 3,410 Bcf, total working gas is below the 5-year historical range.

Europe Natural Gas Storage Data

Working gas in underground storage compared with the 5 year max min

Natural gas prices at most market locations outside the Northeast fell in each day of trading, supported by weaker power sector demand and forecasts of more moderate temperatures. With well-below-normal temperatures forecast in many areas over the holiday weekend (Thursday through Sunday), prices in the Midwest and Midcontinent regions rose 10 to 15 cents/MMBtu in trading on Wednesday, but fell 30 to 40 cents on Monday. Similar price movements occurred at market locations in the West, as well as at the Henry Hub in Louisiana. After increasing 12 cents/MMBtu in trading last Wednesday, the Henry Hub spot price started the report week at $4.24/MMBtu, and then declined 34 cents/MMBtu on Monday. Spot prices at the Henry Hub declined further in trading Tuesday and Wednesday, ending the report week at $3.63/MMBtu.

natural gas spot price henry hub

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