EIA Natural Gas Storage Report 07-07-23
Summary
Working gas in storage was 2,877 Bcf as of Friday, June 30, 2023, according to EIA estimates. This represents a net increase of 72 Bcf from the previous week.
Analyst expected today’s EIA weekly storage report to show an injection at about 65 Bcf.
Stocks were 575 Bcf higher than last year at this time and 366 Bcf above the five-year average of 2,511 Bcf. At 2,877 Bcf, total working gas is within the five-year historical range.
The 12- and 24-month natural gas strip prices increased slightly from last week, settling at $3.192/Dth (up 2.11%) and $3.490/Dth (up 1.79%) respectively.
The EIA reported a 72 Bcf injection which is higher than expectations of 65 Bcf. Inventory is now 575 Bcf above last year and 366 Bcf above the 5-yr average.
Mandatory Benchmarking: For the first time, owners of commercial buildings over 25,000 square feet will be required to report the building’s energy and water usage to the New Jersey BPU. These benchmarking reports will be due annually with the first report due by October 1, 2023 (using 2022 usage data). You should start receiving notifications from the BPU by July 1, 2023.
Natural Gas Futures
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