• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

A Slightly Tighter EIA Print Keeps Natural Gas Stable

By Kurt Osterberg · On April 12, 2018

The May natural gas contract gained a whopping 11 ticks on the day to settle up .4% in a day of relatively slow trading around this morning’s EIA print. 

Prices were trading lower this morning before continued firm cash prices helped them tick back up again. 

At 10:30 AM Eastern the EIA announced that we had withdrawn 19 bcf of gas from storage last week, which was enough to give prices a little bounce and flip them back positive on the day. 

This was just 3 bcf from our estimate to subscribers of -16 bcf, though most analysts were clustered lower around -11 to -13 bcf. The result was a modest bullish miss from this consensus, though despite the initial pop in prices in our EIA Rapid Release we highlighted that we just saw the print as neutral overall (which ended up verifying well given price action into the end of the day). 

Looking deeper into this print, back in our Tuesday Note of the Day we had highlighted that given withdrawals reported from TCO and DTI we were expecting a mid-teen draw to be announced nationally. 

The East saw a withdrawal slightly above what TCO and DTI would have otherwise indicated, and the Midwest saw an even more impressive draw. The EIA also interestingly noted that, “Withdrawals from base gas are reflected in the working gas inventories reported in this week’s report,” indicating that some base gas was released from storage as well. 

 

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    The Key to Continuing Productivity at Home

  • Finance

    Why Businesses Fail to Solve the Right Problem

  • Finance

    How to Track Business Expenses (And Why You Shouldn’t Put It Off)

No Comments

Leave a reply Cancel reply

Top Finance

  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce
  • Shark Tank Recap: Shed Defender, Tata Towels and Sanaia Applesauce Secure Deals Shark Tank Recap: Shed Defender, Tata Towels and Sanaia Applesauce Secure Deals
  • Hedge Funds In The US Hedge Funds In The US
  • One Ring To Rule Them All One Ring To Rule Them All
  • Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates

New Posts

  • The Key to Continuing Productivity at Home

    The Key to Continuing Productivity at Home

    January 27, 2021
  • Why Businesses Fail to Solve the Right Problem

    Why Businesses Fail to Solve the Right Problem

    January 27, 2021
  • How to Track Business Expenses (And Why You Shouldn’t Put It Off)

    How to Track Business Expenses (And Why You Shouldn’t Put It Off)

    January 27, 2021
  • How to Get More Landing Page Engagement in 2021

    How to Get More Landing Page Engagement in 2021

    January 27, 2021
  • The Power of Renewal: How to Make This Year Better

    The Power of Renewal: How to Make This Year Better

    January 27, 2021
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018 NJCEE. All Rights Reserved.