Natural Gas Prices Should Heat up Soon



Comments (2)

  1. Eric Pyles says:

    “MCF” standard for thousand cubic feet, “MMCF” is million cubic feet. Source: I am an engineer in the natgas industry. Thanks!

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  2. chitra mathew says:

    Please read department of enery report. Here is a gist. It concludes that inventory of is higher than 5 year average. So we can expect prices to go down. Sorry your views are wrong as of today.
    In the Short-Term Energy Outlook (STEO) released on August 11, EIA forecasts that end-of-October inventories will reach 3,867 Bcf, 62 Bcf (1.6%) more than the five-year average for that time. This month’s forecast is also 52 Bcf smaller than the end-of-October inventory that EIA forecast in the July STEO forecast, a change based on lower-than-anticipated injection levels during July. There are currently 12 more weeks in the injection season, which traditionally runs from April 1 through October 31, although in many years injections continue into November. In order to reach 3,867 Bcf, injections need to average 74 Bcf per week through the end of October. EIA’s forecast for the end-of-October inventory level is above the five-year (2010-14) average peak storage value of 3,805 Bcf. To reach the five-year average peak value, average weekly injections through the end of October would need to be 69 Bcf.

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