The Platts pre-report analyst survey suggests U.S. EIA data will show a 89 to 83 Bcf addition to natural gas stocks for the latest reporting week Washington - July 15, 2009 The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 89 and 93 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended July 10, according to a Platts survey of analysts. An injection within those expectations would be smaller than last year's 102-Bcf build and on par with the five-year-average of 88 Bcf. As a result, the year-over-year surplus of 601 Bcf should shrink, while the 452-Bcf surplus over the five-year average should remain relatively flat. The wider range of analyst expectations outside the consensus spanned from injections of 63 Bcf to 106 Bcf. First Energy Capital analyst Martin King said he believes the 75-Bcf build reported for the week ending July 3 was "mysteriously low" and said it's possible EIA will include a "true up" in Thursday's report. "Taking into account the possibility of the aforementioned true up, residual effects of the holiday and some very cool weather for parts of the Northeast and Midwest last week, we expect a fairly healthy injection" to be reported, King said. "It will still be under the reported injection of last year and will continue what we think will be a slow and gradual erosion of the year-over-year surplus as we embark into the second half of the injection season."
The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 89 and 93 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended July 10, according to a Platts survey of analysts.
An injection within those expectations would be smaller than last year's 102-Bcf build and on par with the five-year-average of 88 Bcf. As a result, the year-over-year surplus of 601 Bcf should shrink, while the 452-Bcf surplus over the five-year average should remain relatively flat.
The wider range of analyst expectations outside the consensus spanned from injections of 63 Bcf to 106 Bcf.
First Energy Capital analyst Martin King said he believes the 75-Bcf build reported for the week ending July 3 was "mysteriously low" and said it's possible EIA will include a "true up" in Thursday's report.
"Taking into account the possibility of the aforementioned true up, residual effects of the holiday and some very cool weather for parts of the Northeast and Midwest last week, we expect a fairly healthy injection" to be reported, King said. "It will still be under the reported injection of last year and will continue what we think will be a slow and gradual erosion of the year-over-year surplus as we embark into the second half of the injection season."