|
The Energy Information Administration (EIA) reported that US working gas in storage rose by 75 Bcf for the week ending July 3, 2009. The report fell below expectations of 83-85 Bcf, and reduced the year/year surplus to 601 Bcf (27%) and the year over five year average surplus to 452 Bcf (19%). For the past two months the storage injection reports have been consistently offside of expectations, both to the upside and downside. This highlights the level of uncertainty in the physical market, due to weak demand, fluctuating production and LNG imports.
| |
Aeco (Cdn$/GJ)
|
Nymex(U.S.$/mmbtu)
|
| |
July 15
|
July 8
|
Change
|
July 15
|
July 8
|
Change
|
|
Aug09-Oct09
|
$2.87
|
$3.04
|
-5.5%
|
$3.46
|
$3.51
|
-1.4%
|
| Nov09-Oct10 |
$4.83
|
$5.22
|
-7.5%
|
$5.31
|
$5.42
|
-2.0%
|
| Nov10-Oct11 |
$5.99
|
$6.43
|
-6.8%
|
$6.37
|
$6.51
|
-2.1%
|
| Nymex Prompt Prices |
July 15
|
July 8
|
Change
|
|
Natural Gas (U.S. $ per mmbtu)
|
$3.28
|
$3.353
|
-2.0%
|
|
Crude Oil WTI (U.S. $ per barrel)
|
$61.54
|
$60.14
|
+2.2%
|
| Currency |
July 15
|
July 8
|
Change
|
| USD/CAD |
$.08974
|
$0.854
|
+5.0%
|
The number of active natural gas drilling rigs in the United States fell last week to 672, down from 688 the previous week. It should be noted that the rate of drilling declines has slowed significantly since reaching 700 in May of 2009......The full Market Watch is available to ECNG Customers to contact one of our specialists, call 1-888-989-1501 or email info@ecng.com
Please contact your Client Service Representative if you have any questions.
www.ecng.com
|
