US EIA gas storage estimate undershoots consensus again; NYMEX rallies

The US Energy Information Administration Aug. 8 reported a 21 Bcf injection to US working gas storage from late July to early August in another bullish estimate that came in below market expectations. The 21-Bcf injection reported by EIA was 6 Bcf smaller than the consensus estimate from S&P Global Commodity Insights’ weekly gas storage survey, which predicted a 27-Bcf… The US Energy Information Administration Aug. 8 reported a 21 Bcf injection to US working gas storage from late July to early August in another bullish estimate that came in below market expectations. The 21-Bcf injection reported by EIA was 6 Bcf smaller than the consensus estimate from S&P Global Commodity Insights’ weekly gas storage survey, which predicted a 27-Bcf… Read More