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Posts Tagged ‘natural gas storage’

Robust Natural Gas Injections Provide Seasonal Buying Opportunity

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On October 13, EIA reported that inventories of gas in underground storage for the week ending October 7increased 112 Bcf to 3,521 Bcf.  This injection of 112 Bcf was the largest on record for a week in October and the largest weekly injection since June 2009.   This current injection is the third week in a row where injections have surpassed year ago levels. 

As a result, the storage deficit to last year has narrowed and currently storage is 68 Bcf above the five year average. The robust pace of injections has been putting downward pressure on gas prices and has…
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Natural Gas Program Extended to June 17 for Small Business Owners & Residents in Aurora, OH

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Exciting news! Since nearly 1,000 small business owners, schools, churches and residents signed up for Constellation Energy’s two-year natural gas program in just a little more than a month, the City of Aurora has asked Constellation to extend the offer though June 17.

The City of Aurora named Constellation as the city’s new endorsed supplier through the May 2013 billing period.  The two-year program offers a fixed rate of $5.85 per Mcf of gas consumed through the Dominion East Ohio Gas November 2011 billing…
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March 2011: In like a Lion … Out like a Lion?

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Forecasts for the beginning of April anticipate warmth over Texas and into the Rockies while stormy below-normal temperatures will continue in the East. The East coast can expect some relief around mid-April while the heat currently centered around Texas will continue and spread into the South. 

The below-normal outlook has helped support April ’11  natural gas prices above $4.20/mmbtu this week, 40 cents higher than the beginning of March.  Winter’s last gasp is driving residential and commercial heating demand to levels significantly higher than this time last year.  If cold temperatures persist into early April, heating demand will rise…
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Has Winter Heating Demand Peaked?

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A strong to moderate La Niña pattern typically results in warmer than normal winter temperatures in the Southeast and cooler than normal temperatures in the Northwest.  The 2010-2011 winter has brought extreme cold to much of the nation as Arctic Oscillator blocking continued to counteract La Niña conditions and push arctic air into the U.S. from Canada.  Current weather models point to strengthening La Niña conditions due to arctic blocking dissipating.  The expected result of this pattern shift should be a warmer balance of February and beginning of March forecast.  Strong warmth is expected over the Midwest during the next…
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Natural Gas Prices Fall Toward 13-Month Lows Following Higher-Than-Expected Injection

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Gas prices are down further this morning after falling toward new 13-month lows on Thursday, following another higher-than-expected storage injection of 93 Bcf for the week to October 15.  Natural gas forward prices also fell through the winter and pushed the March-April spread to a new low at 2.4c,  indicating the market has reduced concerns regarding gas inventories for this coming winter.

The injection marked the highest ever for the 42nd week of the year and cumulative injections for the first three weeks of October stand at 269 BCF, the largest ever for this time series.  This week’s injection cut…
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Natural Gas Storage Deficit Continues to Widen

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Gas storage levels rose 28 Bcf in the week to July 23 as the increase in cooling degree-days week-on-week and the heat build-up helped to push the injection 23 Bcf lower than the week before.  Higher demand in the mid-Atlantic due to significant heat helped to drive the increase.  Helping to tighten inventories further was some Gulf production taken offline as a precaution ahead of Tropical Storm Bonnie.  

Overall storage stands at 2,919 Bcf and the deficit to last year has widened to 104 Bcf.  With continued heat into August, the deficit is expected to widen further before potentially narrowing. 

Despite record heat…
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