Platts pre-report analyst survey suggests US EIA data will show a 72- to 76-Bcf addition in natural gas stocks for the latest reporting week
Washington - April 28, 2010
The U.S. Energy Information Administration (EIA) is expected Thursday to report a net injection of 72 to 76 billion cubic feet (Bcf) to natural gas storage for the week that ended April 23, according to a Platts survey of analysts.
A build within expectations would compare with a 77-Bcf injection during the same week last year and the five-year-average of 66 Bcf, according to EIA. As a result, the 95-Bcf surplus to last year’s level will likely shrink, while the 286-Bcf surplus over the five-year average is expected to expand.
Beyond the consensus, the broader range of analyst expectations for the latest reporting week spanned from builds of 55 Bcf to 80 Bcf.
John Gerdes, analyst at SunTrust Robinson Humphrey Energy Research, said Thursday's storage report should prove interesting as it marks the first week of seasonally normal temperatures so far this cooling season, which will allow for a clearer look at underlying supply/demand fundamentals.
"An injection below 70 Bcf would suggest a week-to-week tightening in the supply/demand balance and thus would be a positive catalyst for the gas market," he said.
# # #
This analyst survey is conducted by Platts’ editorial team in Washington DC and is published every Wednesday morning, one day ahead of the 10:30 am (EST) Thursday release of the weekly natural gas storage report of the US Energy Information Administration. Platts has been conducting this survey since January 2007. IMPORTANT NOTE TO EDITORS: The survey results attached above do not contain commentary from a Platts staff member. The survey is conducted and prepared by the Platts market news editors, but the views are those of non-Platts market analysts. The survey includes 15 to 25 analysts, some on a rotational basis. This differs from the weekly pre-report analyst survey of EIA/API US oil stocks data conducted each week by Platts editors, which does include the views of Platts’ editors.
About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemicals, shipping, and metals markets from 17 offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at www.mcgraw-hill.com.