GAZB News and Press, Barclays Bank PLC From 10/08/20

This Thursday, we expect the EIA to report 3,827 bcf of working gas in storage for the week ending October 2. We anticipate to see a build of 71 bcf, which is 31 bcf smaller than a year ago and 15 bcf smaller vs. the 5-year average. Annual storage "surplus" is projected to shrink ...

Crude oil consolidates in Q3- WTI was higher while Brent posts a marginal loss. Oil products move lower over the past three months. Crack spreads decline. Natural gas makes a significant comeback from a quarter-of-a-century low in late June. Ethanol rallies on higher grain...

Cash price reversal today dragged November futures higher by as much as ~11%. We've now had double-digit swings back to back. LNG exports jumped to ~8 Bcf/d this weekend, prompting this cash price response. The weird thing is that the LNG export bounce was largely expected. Mainte...

Aggregate demand for U.S. natural gas totaled around 594 bcf (or 84.8 bcf/d) for the week ending October 2. Aggregate supply of natural gas in the contiguous United States totaled around 652 bcf (or 93.2 bcf/d) in the same week. Currently, we expect the EIA to report a build of 73...

The latest stockpile data pushes the amount of gas in storage above the 2019 peak. Four trillion cubic feet is the next stop. October futures roll to November. Seasonality created the contango that is shrinking after the roll period. Levels to watch in November natural gas fut...

This Thursday, we expect the EIA to report 3,755 bcf of working gas in storage for the week ending September 25. We anticipate to see a build of 75 bcf, which is 34 bcf smaller than a year ago and 3 bcf smaller vs. the 5-year average. Annual storage "surplus" is projected to shrin...

The weight of the Electric Power sector in the natural gas market continues to grow. The monthly net impact of non-degree-day factors on natural gas consumption in the Electric Power sector is bearish (vs. 2019). Renewable generation can potentially displace no less than 4.5 bcf/d...

It took natural gas two months to rally by over 90%. Natural gas should remain highly volatile over the coming weeks. Inventories are very high going into the peak season- Maybe the highest ever. Production is falling. Volatility creates a paradise for trading. For f...

This Thursday, we expect the EIA to report 3,681 bcf of working gas in storage for the week ending September 18. We anticipate to see a build of 67 bcf, which is 30 bcf smaller than a year ago and 13 bcf smaller vs. the 5-year average. Annual storage "surplus" is projected to shri...

Overall, the year-over-year average daily rate of consumption of dry natural gas in June 2020 increased in two of the four consuming sectors, and it decreased in the other two. Residential deliveries were the highest for the month since 2009. Commercial deliveries were the lowest for ...