Natural Gas Build Below 5-Year Average
Zacks Investment Research | Sep 10, 2013 01:27AM ET
The U.S. Energy Department's weekly inventory release showed a larger-than-expected rise in natural gas supplies on account of weak demand. However, on a slightly bullish note, the storage build was smaller than the benchmark 5-year average gain for the week.
About the Weekly Natural Gas Storage Report
The Weekly Natural Gas Storage Report – brought out by the Energy Information Administration (EIA) every Thursday since 2002 – includes updates on natural gas market prices, the latest storage level estimates, recent weather data and other market activities or events.
The report provides an overview of the level of reserves and their movements, thereby helping investors understand the demand/supply dynamics of natural gas. It is an indicator of current gas prices and volatility that affect businesses of natural gas-weighted companies and related support plays.
Analysis of the Data
Stockpiles held in underground storage in the lower 48 states rose by 58 billion cubic feet (Bcf) for the week ended Aug 30, 2013, higher than the guided range (of 53–57 Bcf gain) as per the analysts surveyed by Platts, the energy information arm of McGraw-Hill Financial Inc. (MHFIOriginal post
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