U.S. Natural Gas Weekly – September 3, 2010

September 3rd, 2010 by Belisarius

(For The Week Ending August 27, 2010)

Working gas in storage rose 54 Bcf from previous week. Consensus was at 55 Bcf.

Stockpiling will be higher in the following weeks (mild temperatures) so the supply/demand balance will be better then last year, but altogether bad. This points that 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

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