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US Natural Gas Futures: What to Expect This Spring

PART:
1 2 3 4 5 6 7 8
Part 4
US Natural Gas Futures: What to Expect This Spring PART 4 OF 8

Decoding US Natural Gas Inventories: Week Ending April 14

US natural gas inventories by region  

The EIA (U.S. Energy Information Administration) divides the US into the following five natural gas storage regions:

  • East
  • Midwest
  • Mountain
  • Pacific
  • South Central

Decoding US Natural Gas Inventories: Week Ending April 14

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Below are the movements in natural gas inventories for the storage regions on April 7–14, 2017.

  • East – rose by 12 Bcf (billion cubic feet) to 278 Bcf
  • Midwest – rose by 11 Bcf to 487 Bcf
  • Mountain – rose by 3 Bcf to 144 Bcf
  • Pacific – rose by 2 Bcf to 223 Bcf
  • South Central – rose by 26 Bcf to 983 Bcf

Natural gas inventories and prices 

US natural gas inventories were at 2,115 Bcf for the week ending April 14, 2017—15.4% higher than their five-year average, as we saw in the previous part of this series. The EIA estimates that US natural gas inventories will be 3,861 Bcf by the end of October 2017—0.70% lower than the five-year average.

The fall in US natural gas inventories in the coming months is bullish for US natural gas (UGAZ) (FCG) (UNG) (DGAZ) prices in 2017. Higher natural gas prices can have a positive impact on oil and gas producers’ profitabilities such as Gulfport Energy (GPOR), Cabot Oil & Gas (COG), and Range Resources (RRC). For more on inventories, read the previous part of this series.

The US natural gas rig count also plays a vital role in driving natural gas prices. We’ll take a look at the US natural gas rig count in the next part of this series.

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