FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US EIA Gas Storage Injection of 85bcf Estimated: BNEF

NATGAS

The US EIA gas storage data due for release at 10:30ET (15:30BST) is expected to show a net injection of 85bcf for the week ending May 3 according to BNEF.

  • A Bloomberg survey average suggests a build of 86bcf on the week compared to the seasonal normal injection of about 76bcf.
  • The BNEF samples-based model predicts an injection of 80bcf while the weather-based supply and demand model also predicts an injection of 80bcf.
  • Total storage was last week reported at 2,484bcf after an injection of 59bcf on the week. US storage was 642bcf higher than the seasonal average of 1,842bcf and 243bcf higher than the previous five-year high.
  • Total consumption is expected to have fallen in the latest EIA reference week from 78.0bcf/d to 74.5bcf/d. A drop in residential/commercial demand more than offset higher industrial and power generation demand.
  • Total supply has also fallen slightly from 86.3bcf/d to 85.9bcf/d, with a dip in production and recovering LNG feedgas.
  • The early view for the week ending May 10 is for an injection of 80bcf.
  • US Natgas JUN 24 up 1.3% at 2.22$/mmbtu
  • US Natgas NOV 24 down 0.5% at 3$/mmbtu
  • US Natgas MAY 25 down 1.4% at 2.98$/mmbtu
Energy BulletsPower BulletsCommoditiesUS
Energy BulletsPower BulletsCommoditiesUS

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.