Change Coming This Week in How EIA Reports NatGas Storage Data

It may sound dry as unbuttered toast, but the issue of natural gas storage is a serious business. So serious that the U.S. Energy Information Administration (EIA) tracks natural gas storage each week (see Weekly Natural Gas Storage Report). Natural gas traders, buyers and sellers all watch the numbers closely. As we’ve told you over the years, natural gas is about as pure of a commodity as you can get. It is a classic supply and demand kind of business. The more supply you have (as indicated by how much gas is in storage), without corresponding demand–the lower the price goes. We are, as of right now, hitting record storage levels at this point in the year. That means the price of gas isn’t going higher any time soon. There is an important change coming in the way the EIA reports storage data. Beginning this Thursday, Nov. 19, the EIA will move from reporting storage data in three regions in the U.S. to reporting it in five regions…

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