Table of Contents
The Energy Information Administration (EIA) Natural Gas Storage report is a vital indicator that measures the weekly change in the volume of natural gas held in underground storage in the United States. This report provides crucial insights into the supply and demand dynamics of the natural gas market, influencing energy prices, economic decisions, and even the valuation of currencies, notably the Canadian dollar. This comprehensive article will delve into the mechanics of the EIA Natural Gas Storage report, its implications for natural gas prices, and the broader economic and market impacts.
| Release Date | Time | Actual | Forecast | Previous | |
|---|---|---|---|---|---|
| Jun 13, 2024 | 10:30 | 98B | |||
| Jun 06, 2024 | 10:30 | 98B | 89B | 84B | |
| May 30, 2024 | 10:30 | 84B | 77B | 78B | |
| May 23, 2024 | 10:30 | 78B | 84B | 70B | |
| May 16, 2024 | 10:30 | 70B | 76B | 79B | |
| May 09, 2024 | 10:30 | 79B | 87B | 59B | |
| May 02, 2024 | 10:30 | 59B | 68B | 92B | |
| Apr 25, 2024 | 10:30 | 92B | 87B | 50B | |
| Apr 18, 2024 | 10:30 | 50B | 54B | 24B | |
| Apr 11, 2024 | 10:30 | 24B | 14B | -37B | |
| Apr 04, 2024 | 10:30 | -37B | -42B | -36B | |
| Mar 28, 2024 | 10:30 | -36B | -26B | 7B | |
| Mar 21, 2024 | 10:30 | 7B | 5B | -9B | |
| Mar 14, 2024 | 10:30 | -9B | -3B | -40B | |
| Mar 07, 2024 | 11:30 | -40B | -42B | -96B | |
| Feb 29, 2024 | 11:30 | -96B | -86B | -60B | |
| Feb 22, 2024 | 11:30 | -60B | -59B | -54B | |
| Feb 15, 2024 | 11:30 | -49B | -67B | -75B | |
| Feb 08, 2024 | 11:30 | -75B | -73B | -197B | |
| Feb 01, 2024 | 11:30 | -197B | -202B | -326B | |
| Jan 25, 2024 | 11:30 | -326B | -322B | -154B | |
| Jan 18, 2024 | 11:30 | -154B | -164B | -140B | |
| Jan 11, 2024 | 11:30 | -140B | -119B | -14B | |
| Jan 04, 2024 | 11:30 | -14B | -40B | -87B | |
| Dec 28, 2023 | 11:30 | -87B | -79B | -87B | |
| Dec 21, 2023 | 11:30 | -87B | -82B | -55B | |
| Dec 14, 2023 | 11:30 | -55B | -54B | -117B | |
| Dec 07, 2023 | 11:30 | -117B | -105B | 10B | |
| Nov 30, 2023 | 11:30 | 10B | -12B | -7B | |
| Nov 22, 2023 | 13:00 | -7B | 7B | 60B | |
| Nov 16, 2023 | 11:30 | 60B | 40B | -6B | |
| Nov 16, 2023 | 11:29 | -6B | 79B | ||
| Nov 02, 2023 | 10:30 | 79B | 80B | 74B | |
| Oct 26, 2023 | 10:30 | 74B | 80B | 97B | |
| Oct 19, 2023 | 10:30 | 97B | 80B | 84B | |
| Oct 12, 2023 | 10:30 | 84B | 88B | 86B | |
| Oct 05, 2023 | 10:30 | 86B | 92B | 90B | |
| Sep 28, 2023 | 10:30 | 90B | 88B | 64B | |
| Sep 21, 2023 | 10:30 | 64B | 67B | 57B | |
| Sep 14, 2023 | 10:30 | 57B | 48B | 33B | |
| Sep 07, 2023 | 10:30 | 33B | 43B | 32B | |
| Aug 31, 2023 | 10:30 | 32B | 25B | 18B | |
| Aug 24, 2023 | 10:30 | 18B | 33B | 35B | |
| Aug 17, 2023 | 10:30 | 35B | 34B | 29B | |
| Aug 10, 2023 | 10:30 | 29B | 25B | 14B | |
| Aug 03, 2023 | 10:30 | 14B | 17B | 16B | |
| Jul 27, 2023 | 10:30 | 16B | 19B | 41B | |
| Jul 20, 2023 | 10:30 | 41B | 40B | 49B | |
| Jul 13, 2023 | 10:30 | 49B | 51B | 68B | |
| Jul 07, 2023 | 10:30 | 72B | 64B | 76B | |
| Jun 29, 2023 | 10:30 | 76B | 83B | 95B | |
| Jun 22, 2023 | 10:30 | 95B | 91B | 84B | |
| Jun 15, 2023 | 10:30 | 84B | 96B | 104B | |
| Jun 08, 2023 | 10:30 | 104B | 104B | 110B | |
| Jun 01, 2023 | 10:30 | 110B | 113B | 96B | |
| May 25, 2023 | 10:30 | 96B | 108B | 99B | |
| May 18, 2023 | 10:30 | 99B | 108B | 78B | |
| May 11, 2023 | 10:30 | 78B | 74B | 54B | |
| May 04, 2023 | 10:30 | 54B | 86B | 79B | |
| Apr 27, 2023 | 10:30 | 79B | 75B | 75B | |
| Apr 20, 2023 | 10:30 | 75B | 69B | 25B | |
| Apr 13, 2023 | 10:30 | 25B | 28B | -23B | |
| Apr 06, 2023 | 10:30 | -23B | -21B | -47B | |
| Mar 30, 2023 | 10:30 | -47B | -54B | -72B | |
| Mar 23, 2023 | 10:30 | -72B | -75B | -58B | |
| Mar 16, 2023 | 10:30 | -58B | -62B | -84B | |
| Mar 09, 2023 | 11:30 | -84B | -80B | -81B | |
| Mar 02, 2023 | 11:30 | -81B | -75B | -71B | |
| Feb 23, 2023 | 11:30 | -71B | -67B | -100B | |
| Feb 16, 2023 | 11:30 | -100B | -109B | -217B | |
| Feb 09, 2023 | 11:30 | -217B | -195B | -151B | |
| Feb 02, 2023 | 11:30 | -151B | -142B | -91B | |
| Jan 26, 2023 | 11:30 | -91B | -82B | -82B | |
| Jan 19, 2023 | 11:30 | -82B | -71B | 11B | |
| Jan 12, 2023 | 11:30 | 11B | -15B | -221B | |
| Jan 05, 2023 | 11:30 | -221B | -228B | -213B | |
| Dec 29, 2022 | 11:30 | -213B | -201B | -87B | |
| Dec 22, 2022 | 11:30 | -87B | -93B | -50B | |
| Dec 15, 2022 | 11:30 | -50B | -45B | -21B | |
| Dec 08, 2022 | 11:30 | -21B | -31B | -81B | |
| Dec 01, 2022 | 11:30 | -81B | -84B | -80B | |
| Nov 23, 2022 | 13:00 | -80B | 63B | 64B | |
| Nov 17, 2022 | 11:30 | 64B | 63B | 79B | |
| Nov 10, 2022 | 11:30 | 79B | 84B | 107B | |
| Nov 03, 2022 | 10:30 | 107B | 97B | 52B | |
| Oct 27, 2022 | 10:30 | 52B | 59B | 111B | |
| Oct 20, 2022 | 10:30 | 111B | 105B | 125B | |
| Oct 13, 2022 | 10:30 | 125B | 123B | 129B | |
| Oct 06, 2022 | 10:30 | 129B | 113B | 103B | |
| Sep 29, 2022 | 10:30 | 103B | 94B | 103B | |
| Sep 22, 2022 | 10:30 | 103B | 93B | 77B | |
| Sep 15, 2022 | 10:30 | 77B | 73B | 54B | |
| Sep 08, 2022 | 10:30 | 54B | 54B | 61B | |
| Sep 01, 2022 | 10:30 | 61B | 58B | 60B | |
| Aug 25, 2022 | 10:30 | 60B | 58B | 18B | |
| Aug 18, 2022 | 10:30 | 18B | 34B | 44B | |
| Aug 11, 2022 | 10:30 | 44B | 39B | 41B | |
| Aug 04, 2022 | 10:30 | 41B | 29B | 15B | |
| Jul 28, 2022 | 10:30 | 15B | 22B | 32B | |
| Jul 21, 2022 | 10:30 | 32B | 47B | 58B | |
| Jul 14, 2022 | 10:30 | 58B | 58B | 60B | |
| Jul 07, 2022 | 10:30 | 60B | 74B | 82B | |
| Jun 30, 2022 | 10:30 | 82B | 74B | 74B | |
| Jun 23, 2022 | 10:30 | 74B | 65B | 92B | |
| Jun 16, 2022 | 10:30 | 92B | 97B | ||
| Jun 09, 2022 | 10:30 | 97B | 96B | 90B | |
| Jun 02, 2022 | 10:30 | 90B | 86B | 80B | |
| May 26, 2022 | 10:30 | 80B | 89B | 89B | |
| May 19, 2022 | 10:30 | 89B | 87B | 76B | |
| May 12, 2022 | 10:30 | 76B | 79B | 77B | |
| May 05, 2022 | 10:30 | 77B | 68B | 40B | |
| Apr 28, 2022 | 10:30 | 40B | 38B | 53B | |
| Apr 21, 2022 | 10:30 | 53B | 37B | 15B | |
| Apr 14, 2022 | 10:30 | 15B | 15B | -33B | |
| Apr 07, 2022 | 10:30 | -33B | -26B | 26B | |
| Mar 31, 2022 | 10:30 | 26B | 21B | -51B | |
| Mar 24, 2022 | 10:30 | -51B | -56B | -79B | |
| Mar 17, 2022 | 10:30 | -79B | -73B | -124B | |
| Mar 10, 2022 | 11:30 | -124B | -117B | -139B | |
| Mar 03, 2022 | 11:30 | -139B | -138B | -129B | |
| Feb 24, 2022 | 11:30 | -129B | -134B | -190B | |
| Feb 17, 2022 | 11:30 | -190B | -193B | -222B | |
| Feb 10, 2022 | 11:30 | -222B | -222B | -268B | |
| Feb 03, 2022 | 11:30 | -268B | -216B | -219B | |
| Jan 27, 2022 | 11:30 | -219B | -216B | -206B | |
| Jan 20, 2022 | 11:30 | -206B | -194B | -179B |
The Mechanics of the EIA Natural Gas Storage Report
The EIA Natural Gas Storage report is released every Thursday and details the net change in natural gas storage levels in the U.S. for the previous week. These storage levels are measured in billion cubic feet (Bcf) and categorized into three central regions: East, West, and Producing (which includes the Gulf Coast). The report also provides data on the total storage levels, comparing them to the previous week, the same week of the previous year, and the five-year average.
How Data is Collected
The data for the report is gathered through surveys of natural gas operators who report the amount of gas they have in storage. These operators include local distribution companies, interstate pipeline companies, and storage service providers. The EIA aggregates and analyzes the collected data to produce the weekly report.
Interpretation of the Report
The EIA Natural Gas Storage Report is closely monitored by market participants, including traders, analysts, and policymakers. The report’s results can significantly influence natural gas prices, providing direct insight into supply and demand dynamics.
- Increase in Inventories Greater than Expected: Supply is higher than demand when the reported increase in natural gas inventories exceeds market expectations. This scenario typically leads to a bearish sentiment in the natural gas market, causing prices to fall.
- Increase in Inventories Less than Expected: If the increase in inventories is less than expected, demand is more robust relative to supply. This bullish signal generally results in higher natural gas prices.
- Decline in Inventories Greater than Expected: A larger-than-expected decline in inventories suggests robust demand or inadequate supply, both bullish factors for natural gas prices.
- Decline in Inventories Less than Expected: If the decline in inventories is smaller than expected, it points to weaker demand or an oversupply, which can have a bearish impact on natural gas prices.
Impact on the Canadian Dollar
While the EIA Natural Gas Storage Report is a U.S. indicator, its effects extend beyond American borders, particularly influencing the Canadian dollar (CAD). Canada is a significant exporter of natural gas to the U.S., and the health of the energy sector is closely tied to the Canadian economy. Therefore, fluctuations in natural gas prices due to storage reports can significantly impact the CAD.
Direct and Indirect Effects
- Direct Effects: When natural gas prices rise due to lower-than-expected storage levels, Canadian energy companies benefit from higher revenues, improving the overall economic outlook and strengthening the CAD.
- Indirect Effects: The health of the Canadian energy sector also affects investor sentiment and foreign investment flows. A robust energy sector can attract more foreign investment, strengthening CAD.
Broader Economic and Market Implications
The EIA Natural Gas Storage report affects natural gas prices and the Canadian dollar, and it has broader economic and market implications.
Impact on Energy Sector Stocks
The report’s outcomes can influence companies’ stock prices in the natural gas sector. For instance, a bullish report leading to higher natural gas prices can boost the share prices of natural gas producers, pipeline operators, and service companies.
Influence on Inflation and Economic Policy
Natural gas prices play a role in determining inflation rates, as energy costs are a significant component of consumer prices. Higher natural gas prices can increase heating and electricity costs, contributing to overall inflation. Central banks, such as the Federal Reserve and the Bank of Canada, monitor energy prices closely as part of their economic assessments and policy decisions.
Effect on Energy Contracts and Futures Markets
The natural gas futures market is highly responsive to the EIA Natural Gas Storage report. Traders use the report to make informed decisions on buying and selling futures contracts. Significant deviations from expected storage levels can lead to substantial price volatility in future markets.
Strategies for Traders and Investors
Given the substantial impact of the EIA Natural Gas Storage Report, traders and investors often develop strategies to capitalize on the report’s outcomes.
Anticipatory Strategies
Traders may take positions in natural gas futures or related stocks before the report’s release based on their expectations of the storage data. These positions are typically based on weather forecasts, historical data, and market sentiment.
Reactive Strategies
After the report is released, traders may quickly adjust their positions in response to the actual data. This approach requires swift decision-making and the ability to interpret the report accurately and promptly.
Conclusion
The EIA Natural Gas Storage report is a crucial indicator with far-reaching implications for the natural gas market, energy sector, broader economy, and even international currencies like the Canadian dollar. Understanding the dynamics of this report and its impacts can provide valuable insights for traders, investors, and policymakers. By closely monitoring storage levels and market expectations, stakeholders can make informed decisions that align with the natural gas market’s prevailing supply and demand conditions.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
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