One week officially into fall and natural gas inventories hit a two-year high. EIA reported that national inventories climbed to 3,205 billion cubic feet (Bcf) as of Sep. 20, rising over 100 (Bcf) during the week and now less than 50 Bcf away from the five-year statistical average.
With milder weather forecast over the next 90 days, we should have no problem crossing the finish line of that average in upcoming weeks. It is also a finish line in terms of reaching the fall’s peak inventory levels before we head into winter.
Aside from the short-term blip and price support from the Saudi Arabia Aramco attacks, fundamental news is decidedly bearish and should pressure prices this fall.
Natural gas monthly inventory
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.