EIA Reports 55 Bcf Fill
June Natural Gas Demand Down 0.7% Yr/Yr
10 pages, 14 exhibits
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excerpt:
3Q11 Gas Averages $4.18 per MMBtu. On 8/30, the September gas
contract rolled off the board at $3.84 per MMBtu, with a three-day average
closing price (price at which most gas is sold) of $3.87 per MMBtu. For 3Q11,
gas prices averaged $4.18 per MMBtu, down 4% qtr/qtr and down 5% yr/yr
while the 2011 YTD average price was $4.22 per MMBtu. Following today’s
report, the October contract is trading at $4.04 (up 3% since assuming the
front-month position), while the 2011 curve is at $4.10 (up 1% wk/wk) and
the 2012 curve is at $4.57 (up 3% wk/wk).
June Natural Gas Demand Down 0.7% Yr/Yr. Overall U.S. demand for
natural gas was down 0.7% yr/yr (0.4 Bcf/d) in June 2011 vs. the
historical average of up 1.7% since 2001. The overall demand decline
was driven by electric power demand, which was down 2.7% (0.6 Bcf/d)
yr/yr, and residential demand, which was down 4.7% (0.2 Bcf/d) yr/yr.
Industrial demand increased 1.0% (0.2 Bcf/d) yr/yr while commercial
demand was flat increasing 0.1% (0.0 Bcf/d) yr/yr. For 2011 YTD, natural
gas demand increased 1.7% (1.1 Bcf/d) relative to 2010, which was
driven primarily by industrial and electric power demand which were both
up 3.0% (0.6 Bcf/d) and 2.8% (0.5 Bcf/d), respectively. |
