Natural Gas Inventory Report 8-28-08

Working gas in storage was 2,757 Bcf as of Friday, August 22, 2008, according to EIA estimates. This represents a net increase of 102 Bcf from the previous week. Stocks were 200 Bcf less than last year at this time and 71 Bcf above the 5-year average of 2,686 Bcf. In the East Region, stocks were 78 Bcf above the 5-year average following net injections of 69 Bcf. Stocks in the Producing Region were 8 Bcf below the 5-year average of 785 Bcf a net injection of 25 Bcf. Stocks in the West Region were 1 Bcf above the 5-year average after a net addition of 8 Bcf. At 2,757 Bcf, total working gas is within the 5-year historical range.

Natural gas futures are up $0.18 per Mbtu on concerns that Gustav may enter the Gulf of Mexico.

Natural Gas Inventory Report 8-21-08

Working gas in storage was 2,655 Bcf as of Friday, August 15, 2008, according to EIA estimates. This represents a net increase of 88 Bcf from the previous week. Stocks were 264 Bcf less than last year at this time and 26 Bcf above the 5-year average of 2,629 Bcf. In the East Region, stocks were 54 Bcf above the 5-year average following net injections of 67 Bcf. Stocks in the Producing Region were 26 Bcf below the 5-year average of 778 Bcf a net injection of 16 Bcf. Stocks in the West Region were 2 Bcf below the 5-year average after a net addition of 5 Bcf. At 2,655 Bcf, total working gas is within the 5-year historical range.

Natural Gas Inventory Report 8-14-08

Working gas in storage was 2,567 Bcf as of Friday, August 8, 2008, according to EIA estimates. This represents a net increase of 50 Bcf from the previous week. Stocks were 330 Bcf less than last year at this time and 6 Bcf below the 5-year average of 2,573 Bcf. In the East Region, stocks were 34 Bcf above the 5-year average following net injections of 55 Bcf. Stocks in the Producing Region were 37 Bcf below the 5-year average of 773 Bcf a net withdrawal of 9 Bcf. Stocks in the West Region were 3 Bcf below the 5-year average after a net addition of 4 Bcf. At 2,567 Bcf, total working gas is within the 5-year historical range.

The New York Mercantile Exchange's natural gas benchmark closed the week at $8.24 per million btu, down from last week's $9.08.

$8.24 is within the high side of a seasonally adjusted price range. Last year at this time natural gas traded at $6.63.

Natural Gas Inventory Report 8-07-08

Working gas in storage was 2,517 Bcf as of Friday, August 1, 2008, according to EIA estimates. This represents a net increase of 56 Bcf from the previous week. Stocks were 353 Bcf less than last year at this time and 6 Bcf below the 5-year average of 2,523 Bcf. In the East Region, stocks were 19 Bcf above the 5-year average following net injections of 55 Bcf. Stocks in the Producing Region were 24 Bcf below the 5-year average of 769 Bcf a net withdrawal of 7 Bcf. Stocks in the West Region were 1 Bcf below the 5-year average after a net addition of 8 Bcf. At 2,517 Bcf, total working gas is within the 5-year historical range.


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Natural Gas Remains Oversold

Natural gas prices remain below the 200 day moving average with a Williams %R reading of -82.67

A reading of -80 to -100 is considered oversold.