NatGas Plunges After Failed Test Of Range Top; Outlook Unchanged As Deficit Holds Steady

May 30, 2013

We examine the latest developments in the natural gas market.

 

Natural gas fell sharply after the Energy Information Administration reported that operators injected 88 billion cubic feet into storage last week, within the 84 to 90 bcf range most analysts were expecting.

The injection was above the year-ago build of 71 bcf, but below the five-year average build of 90 bcf.

 

 

In turn, inventories now stand at 2,141 bcf, which is 674 bcf below the year-ago level and 80 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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