EIA NG STORAGE REPORT
| May 30, 2019
May 30, 2019
The EIA reported a +114 bcf increase in inventories this week. This week’s build was 12 bcf higher than our estimate and 16 bcf above the Bloomberg median. The vast majority of our miss this week came from the South Central region where we underestimated the build by 8 bcf. Our initial estimate for the week ending May 30th is an injection of 113 bcf. In general, the South Central often surprises due to its lower visibility around nominations, especially in Texas. Thus, there is a limit on .....
EIA NG STORAGE REPORT
| May 23, 2019
May 23, 2019
The EIA reported a +100 bcf increase in inventories this week. This week’s build was in line with our estimate and -3 bcf below the Bloomberg median. An underestimate in the Midwest build this week was offset by an overestimate in the South Central. Our initial estimate for the week ending May 23rd is an injection of 101 bcf. While our early estimate for next week’s build on aggregate is very similar to this week’s reported number, the regional split is expected to see a significant shift......
EIA NG STORAGE REPORT
| May 16, 2019
May 16, 2019
The EIA reported a +106 bcf increase in inventories this week. This week’s build was +3 bcf higher than our estimate and +2 bcf above the Bloomberg median. The majority of our miss this week was in the East, where we underestimated injections by 4 bcf. Our initial estimate for the week ending May 16th is an injection of around 100 bcf. The strong injection in the East this week was surprising, coming in higher than both our scrape and regional models had forecasted, for the second week in .....
EIA NG STORAGE REPORT
| May 09, 2019
May 9, 2019
Please note our extended U.S. and Canada tables covering the withdrawal season are included in the attachment. The EIA reported a +85 bcf increase in inventories this week. This week’s reported injection was in line with our estimate and -1 bcf below the Bloomberg median. After two weeks of overestimating Eastern builds and underestimating South Central builds, our divergence swung the other way this week, with an underestimate in the East and overestimate in the South Central, fortunately t.....
EIA NG STORAGE REPORT
| May 02, 2019
May 2, 2019
The EIA reported a +123 bcf increase in inventories this week. This week’s reported injection was 1 bcf higher than our estimate and +7 bcf higher than the Bloomberg median. Regionally, we underestimated injections in the South Central again this week, while overestimating builds in the East. Our initial estimate for the week ending May 2nd is an injection in the high 80 bcf range. This week’s 123 bcf injection marked the largest build since May 2015. Also, with the help independent roundi.....
EIA NG STORAGE REPORT
| April 25, 2019
April 25, 2019
The EIA reported a +92 bcf increase in inventories this week. This week’s reported injection was 3 bcf lower than our estimate and in line with the Bloomberg median. Regionally, we underestimated injections in the South Central while overestimating builds in the East and Midwest. Our initial estimate for the week ending April 25th is an injection in the low 120 bcf range. With this week’s number falling well within consensus, it provides an opportunity to look at some of the early highligh.....
EIA NG STORAGE REPORT
| April 18, 2019
April 18, 2019
The EIA reported a +92 bcf increase in inventories this week. This week’s reported injection was +3 bcf higher than our estimate and +1 bcf higher than the Bloomberg median. An underestimate in South Central and East builds was partially offset by an overestimate in the Midwest. Our initial estimate for the week ending April 18th is an injection in the high 90 bcf range. As expected in our Tuesday report, the East, Midwest and South Central salt caverns all erased year-over-year deficits t.....
EIA NG STORAGE REPORT
| April 11, 2019
April 11, 2019
Please note our extended U.S. and Canada tables covering the withdrawal season are included in the attachment. The EIA reported a +25 bcf increase in inventories this week. Recalcifications included in this week’s EIA report resulted in decreased working gas stocks in both the South Central Salts and Pacific; without the reclassifications the net change week over week would have been a +29 bcf build. This week’s reported injection was +11 bcf higher than both our estimate and the Bloomberg.....
EIA NG STORAGE REPORT
| April 04, 2019
April 4, 2019
The EIA reported a +23 bcf increase in inventories this week. This week’s injection was +5 bcf higher than our estimate and +13 bcf above the Bloomberg median. Our only significant miss this week was in the South Central where we underestimated injections by +6 bcf. Our initial estimate for the week ending April 4th is an injection in the high 20 bcf range. Fundamental factors including low ERCOT burns, Sabine Pass LNG maintenance and a drop in net flows on pipelines out of the region .....
EIA NG STORAGE REPORT
| March 28, 2019
March 28, 2019
The EIA reported a -36 bcf decrease in inventories this week. This week’s draw was +4 bcf higher than our estimate and -3 bcf below the Bloomberg median. Our regional estimates were all off this week, we underestimated draws in the East and Midwest and South Central but fortunately our miss was partially offset by stronger injections in the Pacific and a net zero number in Mountain. According to our forecast, this week’s number marks the last net withdrawal of the Winter. Our initial estimat.....