The Platts pre-report analyst survey suggests U.S. EIA data will show a 76 to 81 Bcf addition to natural gas stocks for the latest reporting week Washington - April 29, 2009 The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 76 and 81 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended Friday, April 24, according to a Platts survey of analysts. A build within expectations would be on par with last year's 77-Bcf injection but larger than the five-year-average of 69 Bcf, according to EIA. As a result, the year-on-year surplus of 459 Bcf is expected to remain flat but the 322-Bcf surplus over the five-year average should expand. An injection above average or above expectations could push natural gas prices lower because it indicates that the market may be oversupplied with gas. Outside the consensus, the broader range of analyst expectations for the latest reporting period spanned from injections of 70 Bcf to 100 Bcf. Ron Denhardt, vice president of natural gas services at Strategic Energy and Economic Research, noted that injections continue to run 4 billion cubic feet per day (BCF/d) to 5 Bcf/d above the five-year average and that, unless there is extreme summer heat or a significant loss of production from hurricanes, some storage facilities could reach capacity before the typical injection season ends. For more information on natural gas, visit the Platts website.
The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 76 and 81 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended Friday, April 24, according to a Platts survey of analysts.
A build within expectations would be on par with last year's 77-Bcf injection but larger than the five-year-average of 69 Bcf, according to EIA. As a result, the year-on-year surplus of 459 Bcf is expected to remain flat but the 322-Bcf surplus over the five-year average should expand.
An injection above average or above expectations could push natural gas prices lower because it indicates that the market may be oversupplied with gas.
Outside the consensus, the broader range of analyst expectations for the latest reporting period spanned from injections of 70 Bcf to 100 Bcf.
Ron Denhardt, vice president of natural gas services at Strategic Energy and Economic Research, noted that injections continue to run 4 billion cubic feet per day (BCF/d) to 5 Bcf/d above the five-year average and that, unless there is extreme summer heat or a significant loss of production from hurricanes, some storage facilities could reach capacity before the typical injection season ends.
For more information on natural gas, visit the Platts website.