Storage Report

EIA Storage Report Upside Surprise Drives Natural Gas Futures Sharply Higher

EIA Storage Report Upside Surprise Drives Natural Gas Futures Sharply Higher

January Nymex natural gas futures settled the Thursday regular trading session up 12.5 cents at $2.572/MMBtu, gaining ground after the release of a natural gas storage report that showed a larger withdrawal than expected for the week of Dec. 15.  At A Glance: January futures up 12.5 cents Large 87 Bcf storage draw surprises Cash…

December 21, 2023
Bearish Storage Print Sustains Downward Pressure on Natural Gas Futures

Bearish Storage Print Sustains Downward Pressure on Natural Gas Futures

The U.S. Energy Information Administration (EIA) posted a withdrawal of 47 Bcf natural gas from storage for the week ended March 24. The result fell short of median estimates in polls while inventories remained well above average levels. Natural gas futures faltered in the wake of the report. Ahead of the print, May Nymex futures…

March 30, 2023
October Natural Gas Futures Probe Higher into Expiration as ‘Awful’ Hurricane Strikes, Russia Antagonizes

October Natural Gas Futures Probe Higher into Expiration as ‘Awful’ Hurricane Strikes, Russia Antagonizes

Natural gas futures seesawed as a powerful hurricane hammered Florida Wednesday, curbing demand but raising the specter of production interruptions. Market participants also weighed expectations for another stout storage print amid thin trading heading into contract expiration. At A Glance: Analysts look for 90s Bcf storage build Hurricane Ian poses damage wildcard Russian threats ignite…

September 28, 2022
Natural Gas Futures Take Breather After On-Target EIA Data; California Heat Drives Up Cash

Natural Gas Futures Take Breather After On-Target EIA Data; California Heat Drives Up Cash

Natural gas futures were unusually quiet on Thursday, bobbing in and out of positive territory as the latest government inventory data offered no surprises and moved the needle only slightly on storage deficits. The September Nymex gas futures settled at $9.375/MMBtu, up 4.5 cents from Wednesday’s close. October futures ticked up 4.4 cents to $9.344.…

August 25, 2022
Natural Gas Futures Erode Further on Bearish EIA Data; Cash Slides Too

Natural Gas Futures Erode Further on Bearish EIA Data; Cash Slides Too

The latest government storage data swiped the rug out from underneath natural gas futures on Thursday, with a larger-than-expected injection highlighting the fragility of the gas market. The July Nymex futures contract settled at $6.239/MMBtu, down 61.9 cents on the day. August futures tumbled 58.9 cents to $6.283. Spot gas prices were mostly lower despite…

June 23, 2022
Natural Gas Futures Stumble, but Decline Seen as ‘Noise’; Cash Drops

Natural Gas Futures Stumble, but Decline Seen as ‘Noise’; Cash Drops

Natural gas futures took a step lower Thursday after three straight days of gains, with production showing signs of recovery amid ongoing maintenance. Some loosening in the latest government inventory data also influenced pricing, sending the June Nymex gas futures contract down 45.1 cents to $6.888/MMBtu. July futures shed 44.2 cents to hit $6.994. Spot…

April 28, 2022
Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

The U.S. Energy Information Administration (EIA) reported a pull of 179 Bcf natural gas from storage for the week ended Jan. 7, the largest so far this winter and in line with expectations. Nymex natural gas futures, already down in morning trading following a four-day rally, held deep in the red after the print. Ahead…

January 13, 2022
February Natural Gas Futures Lower as Light Storage Withdrawal Amplifies Demand Worries

February Natural Gas Futures Lower as Light Storage Withdrawal Amplifies Demand Worries

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 31 Bcf natural gas from storage for the final week of 2021. The result fell far short of the midpoint of analysts’ estimates and punctuated market concerns about weather-driven demand. The result was “super-duper bearish,” as one participant on The Desk’s online energy…

January 6, 2022
November Natural Gas Futures Soar Even as EIA Inventory Report Shows Rising Storage Levels

November Natural Gas Futures Soar Even as EIA Inventory Report Shows Rising Storage Levels

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 88 Bcf natural gas into storage for the week ended Sept. 24. The result barely exceeded the midpoint of analysts’ estimates, but it was not high enough to curb upward pressure on Nymex natural gas futures. Ahead of the EIA report, the November…

September 30, 2021
June Natural Gas Futures, Cash Prices Pop as Summer Heat Comes into Focus

June Natural Gas Futures, Cash Prices Pop as Summer Heat Comes into Focus

Natural gas futures surged on Monday, as bulls seized upon forecasts for a burst of early summer heat in the heavily populated Northeast and early predictions for a relatively modest storage injection. The June Nymex contract spiked 14.8 cents day/day and settled at $3.109/MMBtu. July rose 14.6 cents to $3.164. Cash prices climbed, too, led…

May 17, 2021
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