The Platts pre-report analyst survey suggests US EIA Data will show a 16 to 21 Bcf addition to natural gas stocks for the latest reporting week Washington, DC - April 15 2009 The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 16 and 21 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended Friday, April 10, according to a Platts survey of analysts. A build within those expectations would be on par with last year's 21-Bcf addition and the five-year-average injection of 20 Bcf, according to EIA. As a result, little change is expected to the 438-Bcf year-over-year surplus or to the 310-Bcf surplus over the five-year average. A build 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 forecast, the broader range of analyst expectations for the latest reporting period spanned from injections of 8 Bcf to 28 Bcf. "Although temperatures were cooler across the Midwest and the South last week, we expect that the more regimented schedule of utilities will dominate some of the storage activity, helping to keep storage levels little changed," FirstEnergy Capital analyst Martin King said.
The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 16 and 21 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended Friday, April 10, according to a Platts survey of analysts.
A build within those expectations would be on par with last year's 21-Bcf addition and the five-year-average injection of 20 Bcf, according to EIA. As a result, little change is expected to the 438-Bcf year-over-year surplus or to the 310-Bcf surplus over the five-year average.
A build 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 forecast, the broader range of analyst expectations for the latest reporting period spanned from injections of 8 Bcf to 28 Bcf.
"Although temperatures were cooler across the Midwest and the South last week, we expect that the more regimented schedule of utilities will dominate some of the storage activity, helping to keep storage levels little changed," FirstEnergy Capital analyst Martin King said.