At S&P GLobal Platts: US working gas volumes in underground storage rise by 89 Bcf. Build significantly exceeds market expectations. Henry Hub futures selloff focuses on October, November.
The injection was significantly higher compared with S&P Global Platts' survey of analysts calling for a 77 Bcf build. Responses to the survey ranged from an injection of 68 Bcf to 80 Bcf. The injection was also more than the 82 Bcf build reported during the same week last year and 12 Bcf above the five-year average gain of 77 Bcf, according to EIA data.
Storage volumes now stand 535 Bcf, or about 17%, above the year-ago level of 3.079 Tcf and 421 Bcf, or 13%, higher than the five-year average of 3.193 Tcf.
All over twitter yesterday:
- so much for the recent bullishness on natural gas;
- bloodbath at the OK Corral; US Gulf storage will test capacity limits soon;
SeekingAlpha: Cameron LNG could stay off line through October -- Sempra --
- Sempra still has not said whether the terminal's on-site connections were damaged by the hurricane, or if there was other damage that could take longer to repair before full production can resume.
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