Weekly Natural Gas Storage Report 9/4

Storage

Net injections into storage higher than average. The net injection reported for the week ending August 29 was 79 Bcf, 23 Bcf larger than the five-year average net injection of 56 Bcf and 19 Bcf larger than last year's net injection of 60 Bcf. Working gas inventories totaled 2,709 Bcf, 471 Bcf (14.8%) less than last year at this time and 495 Bcf (15.4%) below the five-year (2009-13) average.

Storage build is larger than market expectations. Market expectations called for a build of 74 Bcf. When the EIA storage report was released at 10:30 a.m., the price for the September natural gas futures contract fell 6 cents to $3.81/MMBtu on the Nymex.

http://www.eia.gov/naturalgas/weekly/archive/2014/09_04/index.cfm