Natural Gas Bulls Take Control As Inventories Fall At Alarming Rate, Surplus To Become Deficit

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March 28, 2013
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We examine the latest developments in the natural gas market.

 

Natural gas was steady above $4/mmbtu after the Energy Information Administration reported that operators withdrew 95 billion cubic feet from storage last week, above the 90 bcf withdrawal that most analysts were expecting.

The withdrawal was also bullish compared to last year’s build of 50 bcf and the five-year average build of 8 bcf.

 

 

In turn, inventories now stand at 1,781 bcf, which is 642 bcf below the year-ago level and 59 bcf above the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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