Fundamental Analysis

Melissa Depanian | May 9, 2013 at 10:34 am

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The EIA reported an 88 Bcf injection into natural gas storage for the week ending 5/3/2013, inside of analyst predictions of an injection from 75 Bcf to 111 Bcf. Working gas in storage was 1,865 Bcf as of last Friday, 737 Bcf less than last year’s 2,602 Bcf stock and 99 Bcf below the 5-year average of 1,964 Bcf.

The front-month natural gas contract was last seen trading down 7 cents at $3.908/MMBtu.

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