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Gas storage facilities are gaining more importance due to changes in natural gas demands. First, traditional supplies that once met the winter peak demand are now unable to keep pace. Second, there is a growing summer peak demand on natural gas, due to electric generation via gas fired power plants. Datasource.
Website. EIA.gov. The U.S. Energy Information Administration (EIA) is a principal agency of the U.S. Federal Statistical System responsible for collecting, analyzing, and disseminating energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment.
Due to storage issues, the next five storage reports are likely to be eyed closely by traders as they compare the actual numbers to the EIA estimates.
Traders could start pricing in this after today’s EIA storage report. Natural Gas Price Fundamental Daily Forecast – EIA Estimate is Expected to Come in Below 5-Year Average Draw Skip to main ...
US natural gas storage and consumption in trillion cubic feet. Data from US EIA. Underground Natural Gas Storage facilities in lower 48 states [25] Consumption of natural gas in the US is strongly seasonal, higher in the winter than the summer by between 50% and 90%, depending on severity of the winter.
Favorable weather forecasts revealing hotter trends are likely to spur natural gas demand for cooling, and therefore prices. The uptick should aid gas-weighted producers like SBOW, RRC and AR.
North American natural gas injections (positive) represent additional demand and compete with alternative uses such as gas for heating or for power generation. Natural gas storage levels significantly affect the commodity's price. When the storage levels are low, a signal is being sent to the market indicating that there is a smaller supply ...
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