EIA Weekly Storage Summary For Week Ending July 29, 2022
Next Release: August 11, 2022
The EIA reported an Injection of 41Bcf, the market was expecting an injection of 36Bcf.
Last year same week the EIA reported an injection of 16Bcf, total storage levels are 9.8%lower than last year at this time, and 12.1% lower than the five-year average. Total storage levels are now at 2,457Bcf.
NYMEX natural gas futures prompt-month (September'22) is currently trading at $7.982, $0.43 lower than last week.
Our recommendation would be to continue a portfolio approach through 2025, for power and natural gas open positions.
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