U.S. Natural Gas Weekly – September 10, 2010

(For The Week Ending September 3, 2010)

Working gas in storage rose 58 Bcf from previous week. Consensus was at 57 Bcf.

My stance is unchanged from previous week: “Stockpiling will be higher in the following weeks (because of mild temperatures) so the overall supply/demand balance for the coming months will be better then last year, but altogether bad. We have only technical factors on our side, but price failing to rebound taints that picture.”

Chart 1. Natural Gas Futures

Source: Bloomberg

Chart 2. Working Gas in Underground Storage Compared with 5 Year Average

Source: EIA

Chart 3. Natural Gas Futures Curve

Source: Bloomberg

This entry was posted on Friday, September 10th, 2010 at 1:48 am and is filed under Commodities, U.S. Natural Gas Weekly. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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