Natural Gas Unfazed By Western Heat Wave, Decline To Low -$3 Range Looms

July 03, 2013

We examine the latest developments in the natural gas market.


Natural gas was unchanged near $3.65/mmbtu after the Energy Information Administration reported that operators injected 72 billion cubic feet into storage, within analyst estimates that ranged from 70 to 74 bcf.

The injection was above last year’s build of 39 bcf, and above the five-year average build of 70 bcf.




In turn, inventories now stand at 2,605 bcf, which is 497 bcf below the year-ago level and 25 bcf below the five-year average (calculated using a slightly different methodology than the EIA).




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