eia storage report

Season’s First Storage Withdrawal Provides Bullish Support for Surging Natural Gas Futures

Season’s First Storage Withdrawal Provides Bullish Support for Surging Natural Gas Futures

The U.S. Energy Information Administration (EIA) reported a withdrawal of 80 Bcf natural gas into storage for the week ended Nov. 18. The result came in slightly lighter than market expectations. Still, it was much steeper than the five-year average and supported already lofty Nymex natural gas futures. “We are clearly well into the heating…

November 23, 2022
Natural Gas Futures Extend Win Streak as Freezing Weather Overshadows Bearish Risks, Supports Prices

Natural Gas Futures Extend Win Streak as Freezing Weather Overshadows Bearish Risks, Supports Prices

Natural gas futures edged higher again on Wednesday, extending a rally to three days, as traders ultimately paid more attention to robust heating demand than the protracted shutdown of a key export facility and the likelihood of a relatively robust storage injection. At A Glance: Cold weather remains at forefront Analysts expect large storage build…

November 16, 2022
Natural Gas Futures, Spot Prices Flounder Second Day Amid Hurricane Expectations, Freeport Unknowns

Natural Gas Futures, Spot Prices Flounder Second Day Amid Hurricane Expectations, Freeport Unknowns

Natural gas futures fell for a second consecutive session Wednesday as a powerful storm approached the Southeast, threatening power outages, while traders braced for another plump storage increase and the delayed return of a key export facility. At A Glance: Market looks for strong storage injection Southeast braces for hurricane conditions Freeport LNG’s return remains…

November 9, 2022
EIA Slashes Natural Gas Price Forecast, But Potential Remains for Winter Spikes

EIA Slashes Natural Gas Price Forecast, But Potential Remains for Winter Spikes

With storage refilling at a faster-than-expected clip ahead of winter, the Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. In its latest Short-Term Energy Outlook (STEO), published Tuesday, the agency said it now expects Henry Hub spot prices to average…

November 8, 2022
November Natural Gas Futures Prices Flat Despite Intraday Swings; Cash Slightly Higher on Cold Snap

November Natural Gas Futures Prices Flat Despite Intraday Swings; Cash Slightly Higher on Cold Snap

Natural gas futures took a breather Wednesday following a two-day rally at the front of the curve that lifted the prompt-month contract amid technically oversold conditions. Despite some intraday volatility, the November Nymex contract closed out Wednesday’s session at $5.606, off only seven-tenths of a penny from Tuesday’s close. December natural gas futures slipped 4.7…

October 26, 2022
Haynesville Continues to Pace Natural Gas Production Growth in Latest EIA Modeling

Haynesville Continues to Pace Natural Gas Production Growth in Latest EIA Modeling

Driven by the Haynesville Shale and the Permian Basin, natural gas production from seven key Lower 48 plays is set to surge 554 MMcf/d from October to November to more than 95 Bcf/d, according to updated modeling from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, EIA said it…

October 17, 2022
Market Bracing for Another Triple-Digit Storage Build as Natural Gas Futures Trade Near Even

Market Bracing for Another Triple-Digit Storage Build as Natural Gas Futures Trade Near Even

As traders braced for the release of updated government inventory data, expected to reveal another triple-digit shoulder season injection, natural gas futures traded close to even early Thursday. The November Nymex contract was off 1.0 cent to $6.425/MMBtu shortly after 8:50 a.m. ET. Surveys ahead of the Energy Information Administration’s (EIA) 10:30 a.m. ET storage…

October 13, 2022
As Hurricane Ian Rages, November Natural Gas Futures Contract Debuts with Whimper 

As Hurricane Ian Rages, November Natural Gas Futures Contract Debuts with Whimper 

Natural gas futures fell on Wednesday in the wake of demand destruction imposed by Hurricane Ian and another stout storage injection. The November Nymex gas futures contract, debuting as the prompt month, lost 8.1 cents day/day and settled at $6.874 /MMBtu. December shed 5.8 cents to $7.142. At A Glance: EIA prints 103 Bcf storage…

September 29, 2022
Natural Gas Futures, Physical Prices Power Ahead and Extend Late Summer Rally

Natural Gas Futures, Physical Prices Power Ahead and Extend Late Summer Rally

Boosted by late-season heat, domestic storage concerns and robust global demand, natural gas futures on Wednesday rallied for a fifth-straight session. The October Nymex gas futures contract spiked 83.0 cents day/day and settled at $9.114/MMBtu, marking its biggest jump in the latest bull run. November gained 83.3 cents to $9.167. At A Glance: Demand drivers…

September 14, 2022
Natural Gas Futures Extend Gains Early as Market Mulls Lingering Storage Deficits

Natural Gas Futures Extend Gains Early as Market Mulls Lingering Storage Deficits

With a lighter-than-average inventory build this week leaving traders to contemplate stubborn storage deficits following a hot summer, natural gas futures continued to rebound in early trading Friday. The October Nymex contract was up 19.6 cents to $8.111/MMBtu as of around 8:55 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 54 Bcf…

September 9, 2022
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