Thursday, April 24, 2014

Following the EIA Storage Report: Natural Gas Futures Down, Natural Gas Producer's Stocks Up (FCG)

From the EIA:
Weekly Natural Gas Storage Report
for week ending April 18, 2014   |   Released: April 24, 2014 at 10:30 a.m.   |   Next Release: May 1, 2014
Summary
Working gas in storage was 899 Bcf as of Friday, April 18, 2014, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week. Stocks were 831 Bcf less than last year at this time and 1,008 Bcf below the 5-year average of 1,907 Bcf. In the East Region, stocks were 470 Bcf below the 5-year average following net injections of 17 Bcf. Stocks in the Producing Region were 412 Bcf below the 5-year average of 805 Bcf after a net injection of 22 Bcf. Stocks in the West Region were 127 Bcf below the 5-year average after a net addition of 10 Bcf. At 899 Bcf, total working gas is below the 5-year historical range.
Working Gas in Underground Storage Compared with 5-Year Range Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2009 through 2013....MORE
The front futures are down 2.8 cents at $4.7020.
Meanwhile the equities continue to romp and play:
First Trust ISE-Revere Natural Gas Index ETF $22.82 Up 0.22 (+0.97%)
Chart forFirst Trust ISE-Revere Natural Gas Idx (FCG)

See also:
Why We Suggested Buying Natural Gas Equities (FCG)