Injected

The Energy Information Administration’s (EIA) Thursday morning report that 64 Bcf was injected into underground natural gas storage for the week ending Sept. 25 pushed working gas levels above the all-time storage record — with five weeks still remaining in the traditional refill season. The injection, which was slightly larger than most industry expectations, allowed natural gas futures values to head lower.

Coming right inline with industry expectations, the Energy Information Administration (EIA) reported Thursday morning that 67 Bcf was injected into underground natural gas storage caverns for the week ending Sept. 18. In response, front-month natural gas futures — which had been heading lower in pre-report trading — took a few minutes to get its bearings before reversing higher.

Saying a remediation of “objectionable liquids” injected into its system (see Daily GPI, May 12) has been completed, ANR said it will resume scheduling gas flow for Thursday at the Hobart Ranch receipt point in the Southwest Gathering Area.

The Energy Information Administration (EIA) reported Thursday morning that 63 Bcf was injected into underground storage for the week ended Sept. 14. Despite the slightly lower than expected storage build and the news of Gulf of Mexico (GOM) evacuations and some shut-ins due to the arrival of a strengthening storm system, traders appeared thoroughly unimpressed on Thursday. October natural gas closed at $6.008, down 17.2 cents from Wednesday’s finish.

One day after absorbing the fact that a bearish 106 Bcf was injected into underground storage for the week ended July 6, August natural gas futures on Friday sprung higher as traders covered shorts ahead of the weekend. The prompt month reached a high of $6.720 before settling at $6.662, up 16.5 cents from Thursday’s close and 21.8 cents higher than the previous week’s finish.

Despite the Energy Information Administration (EIA) report Thursday morning that a much larger-than-average 53 Bcf of gas was injected into storage for the week ended Nov. 11, the natural gas futures market’s knee-jerk reaction was to jump higher on current cold temperatures and winter fears. After showing strength for a majority of the day, a late round of selling pushed the December contract below $12 to settle at $11.942, down 38.7 cents on the day.

The Energy Information Administration (EIA) reported Thursday morning that 77 Bcf was injected into underground storage for the week ended Oct. 21, a number that was seen by the market as bearish when compared to expectations and to historical data for the week. As a result, the expiring November natural gas contract plunged lower, before inching back up to expire at $13.832, still good for a 20.8-cent decline on the day.

The Energy Information Administration (EIA) reported Thursday morning that 75 Bcf was injected into underground storage for the week ended June 17, sending the market tumbling 20 cents in the first hour after the announcement. However, the futures market was resilient, and July natural gas rebounded higher in sympathy with a sizeable crude rally, settling at $7.473, up 3.1 cents on the day. August crude settled at $59.42/bbl, up $1.33.

The Energy Information Administration (EIA) reported that a whopping 50 Bcf was injected into underground natural gas storage for the week ended April 15. While the bearish report already had been anticipated and factored into trading, May natural gas futures pushed slightly lower following the report, recording a trade at $6.88 as of 10:35 a.m. EST.