Natural gas prices hiked during recent days up until yesterday. Today, the price of natural gas resumed its rally. The total NG demand slipped during the week mainly due to the decline in the demand in the residential/commercial sector. The natural gas production slightly rose while the rig count decreased. The storage levels rose again at a slightly slower rate than last year and the 5-year average. According to my rough guess at the current pace the storage will peak around November at 4,000.
The complete natural gas storage analysis and report
The underground natural gas storage (Billion Cubic Feet) rose for the twenty-ninth consecutive week; last week the storage levels increased by 2.15% or by 77 Bcf – the second highest injection in 2012; the storage reached 3,653 billion cubic feet for all lower 48 states.