US Natural Gas Glut Is Disappearing -- Reuters -- July 12, 2016

I did not read the article, but the John Kemp does not support that headline that says "US gas glut is disappearing." If anything the natural gas glut has increased slightly in most recent report. The amount of injection might be decreasing compared to historical norms, but the graph by John Kemp at Twitter shows natural gas working storage as high as ever for this time of year.

In fact, here's the story -- I went over and looked at it:

• U.S. natural gas prices have risen by a third since hitting a two-decade low in the first quarter, amid signs supply and demand are rebalancing and excess stocks left over from an unusually warm winter are being worked down.
• The volume of gas in working storage hit a record 4.01 trillion cubic feet in November 2015 and is still at 3.18 trillion cubic feet, according to the U.S. Energy Information Administration.
• Gas stocks are 513 billion cubic feet (19 percent) higher than in the same week in 2015. But the build has shrunk steadily from a record 1.014 trillion cubic feet (69 percent) in March.

So, natural stocks are down, but still at record levels for this time of year according to the John Kemp graphic at Twitter. So, perhaps the "glut is disappearing" -- but it's all relative.

Also at Twitter, Steve Kean at EIA says "natural gas exports to Mexico are booming at a record level of about 3.6 bcf/day.

Also at Twitter from the EIA: global energy intensity continues to decline. "Intensity" is defined as "BTUs/trillion dollars GDP." The graphic:

• World average: from 8.1 quadrillion BTUs/$1 trillion GDP in 1990 to 5.8 in 2015 (a 28% drop)
• OECD countries: from 7.2 quadrillion BTUs/$1 trillion GDP in 1990 to 5.2 in 2015 (a 28% drop)
• non-OECD countries: from 9.8 quadrillion BTUs/$1 trillion GDP in 1990 to 5.9 in 2015 (a 40% drop)