Friday, November 20, 2015

Active rigs:

	11/20/2015	11/20/2014	11/20/2013	11/20/2012	11/20/2010
Active Rigs	65	186	185	181	159

RBN Energy: US natural gas storage hits 4 Tcf for the first time ever in new report format.

We first alerted our readers to EIA’s plans for its methodology changes back in June, in our Breakdown blog series. In Part 1, we covered the critical role of EIA’s Weekly Natural Gas Storage Report as the most important fundamental indicator in the natural gas market. 

The weekly data quantifies changes in natural gas storage inventory from the previous week on a national and regional level. The change in inventory reflects the tension (or lack thereof) between supply and demand, and has a big impact on price sentiment. The market tunes in each Thursday morning at 10:30 AM EST for the release of the storage report to understand whether the supply demand balance is loosening or tightening, relative to history and also relative to expectations, and a flurry of trading activity usually surrounds its release. There is also a cottage industry around predicting what the EIA will report each Thursday morning. Gas traders often react as much to the difference between expectations and actuals as to the outright EIA numbers.

From a reader. We do miss President Reagan, don't we?

The Juggler