EIA Weekly Storage Summary For Week Ending August 12, 2022
Next Release: August 25, 2022
The EIA reported an Injection of 18Bcf, the market was expecting an injection of 29Bcf.
Last year same week the EIA reported an injection of 46Bcf, total storage levels are 10.5% lower than last year at this time, and 12.7% lower than the five-year average. Total storage levels are now at 2,519Bcf.
NYMEX natural gas futures prompt-month (September'22) is currently trading at $9.60, $1.50 higher 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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