NatGas Gets Support From Possible Coal-To-Gas Switching, 1-Month Outlook Still Bearish

August 22, 2013

We examine the latest developments in the natural gas market.

 

Natural gas was last trading up by more than 2 percent to $3.54/mmbtu after the Energy Information Administration reported that operators injected 57 billion cubic feet into storage last week, below the 60 to 70 bcf build most analysts were expecting.

The build was above last year’s build of 47 bcf and equal to the five-year average build of 57 bcf.

In turn, inventories now stand at 3,063 bcf, which is 245 bcf below the year-ago level and 46 bcf above the five-year average (calculated using a slightly different methodology than the EIA).

 

Find your next ETF

Reset All