Saturday, May 27, 2023

Natural Gas Inventory Report, May 27, 2023

The Energy Information Administration released their weekly report on Thursday.


Nationally, inventories are well above the 5 year average, although still well below in the Pacific region. substantial gains have taken place over the past few weeks.

Prices in all West Coast markets declined yesterday from last Wednesday. The price at PG&E Citygate in Northern California fell 95 cents, down from $4.13/MMBtu last Wednesday to $3.18/MMBtu yesterday. The price at SoCal Citygate in Southern California decreased 33 cents from $2.58/MMBtu last Wednesday to $2.25/MMBtu yesterday. The price at Sumas on the Canada-Washington border fell 21 cents from $1.83/MMBtu last Wednesday to $1.62/MMBtu yesterday. Natural gas consumption in the Western region decreased by 1% (0.1 Bcf/d), which was led by a 4% (0.1 Bcf/d) decrease in consumption in the electric power sector. In Northern California, PG&E’s total gas in storage was 12.6 billion cubic feet (Bcf) as of May 23, up from 5.8 Bcf on May 1.

Select inventories of EU and UK...


Prices continue to fall on the UK and EU markets. The UK spread of futures is annually at £1,453.60 ~ £2,191.06, with OFGEM setting the cap at £2,074. That cap is consistent with NatGas prices through October, with an added 3.7% cushion.  





No comments:

Post a Comment

A Bit of Update on the Energy Market, and a Few Political Opinions.

 The winter weather is the likely culprit for the drop in overall consumption. Only time will tell. The overall inventories are still in goo...