NatGas Outlook Turns Neutral On Back Of Steadily Falling Inventory Deficit, Spotty Summer Heat

June 20, 2013

We examine the latest developments in the natural gas market.

 

Natural gas fell modestly to last trade near $3.90/mmbtu after the Energy Information Administration reported that operators injected 91 billion cubic feet into storage, which was the high end of analyst estimates, which ranged from 84 to 92 bcf.

The injection was above last year’s build of 62 bcf, and above the five-year average build of 84 bcf.

 

 

In turn, inventories now stand at 2,438 bcf, which is 568 bcf below the year-ago level and 43 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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