Exploring Hydrocarbon Depletion
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Eli wrote:I think what we are seeing is massive cooking of the books trying to cover up physical realities.
The US got it's first shipment of LNG from Russia.frankthetank wrote:89Bcf...ending Sept 9... What is going on here? With a lot of the gulf turned off, this number could be a lot higher?
Working gas in storage increased to 2,758 Bcf as of Friday, September 9, which is 3.7 percent above the 5-year average inventory level for the report week, according to EIA’s Weekly Natural Gas Storage Report (See Storage Figure). The implied net injection of 89 Bcf is 3 percent above the 5-year average of 86 Bcf and about 7 percent less than last year’s injection of 96 Bcf. It is also the largest net injection since the beginning of July and marks the first time since late June that the implied net injection has exceeded the 5-year average. Despite continued natural gas production shut-ins in the Gulf of Mexico, which reduces supplies from what they otherwise would have been, the relatively large net injection occurred as futures prices hold a significant premium to the Henry Hub spot price offering a strong economic incentive to store natural gas for the winter heating season. Moderate temperatures across the United States also likely contributed to the above average net injection (See Temperature Maps). While the nation as a whole experienced 12.5 percent more cooling degree days than normal, temperatures in key market centers along both the south Atlantic and Pacific coasts were cooler-than-normal, likely reducing demand for natural gas fired electric generation to meet air conditioning demand.
chuck6877 wrote:I was hoping somebody could help answer these questions for me: Can futures contracts be made for natural gas like oil? A futures contract for oil is about $7,000.00, at 10%. What would a futures contract for natural gas cost?
How would I buy a futures contract in natural gas? I want to buy one that would expire at the end of Jan 2006. This would be a good bet huh?
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