High natural gas inventories in the US due to mild winters and high production are pushing prices lower, but the rise of LNG exports may prevent a prolonged price slump.
Whenever I try to get a feel for the direction of natural gas prices, the Energy Information Administration’s EIA Weekly Natural Gas Storage Report is the first place I stop. This report provides an update on the levels of natural gas in storage facilities across the United States . The report includes data on working gas in underground storage, with details on net changes, implied flows, and comparisons to historical data. It’s released every Thursday and covers data up to the previous Friday.
In the case of a mild winter as in 2012, inventories were not significantly depleted before they began to rebuild. The winter of 2011-2012 failed to pull gas inventories below 2 trillion cubic feet Tcf for the first time in over 20 years. Inventories in 2012 bottomed out in early March above 2 Tcf, which was also two to four weeks earlier than is typical.
Natural Gas Prices EIA Storage United States Demand Supply
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