Follow up on energy complex post

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Follow up on energy complex post

posted on Apr 28, 2011 01:11PM

As a follow up on my post regarding the energy complex where I stated a bullish position for Nat Gas, it has broken out and is rallying with good volume and open interest.

Here are the numbers from 10:30EST -

Summary
Working gas in storage was 1,685 Bcf as of Friday, April 22, 2011, according to EIA estimates. This represents a net increase of 31 Bcf from the previous week. Stocks were 215 Bcf less than last year at this time and 11 Bcf below the 5-year average of 1,696 Bcf. In the East Region, stocks were 94 Bcf below the 5-year average following net injections of 14 Bcf. Stocks in the Producing Region were 119 Bcf above the 5-year average of 674 Bcf after a net injection of 13 Bcf. Stocks in the West Region were 36 Bcf below the 5-year average after a net addition of 4 Bcf. At 1,685 Bcf, total working gas is within the 5-year historical range.

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2006 through 2010.
Source: Form EIA-912, "Weekly Underground Natural Gas Storage Report." The dashed vertical lines indicate current and year-ago weekly periods.

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