OGJ Newsletter

06/23/2003
Market MovementRecord storage injection crimps natural gas pricesNatural gas futures prices remained below $6/Mcf on the New York Mercantile Exchange last week out of concern for another big injection into US underground storage. On June 19 the US Energy Information Administration reported an injection of 114 bcf of gas for the week ended June 13. Traders anticipated a figure of 110-120 bcf.Gas futures prices plummeted June 12 when EIA reported the largest ever injection, 125 bcf, into underground storage during the week ended June 6. The previous record high of 120 bcf was reported by the American Gas Association when it tracked these data.Data raise doubtsRecord gas storage injection da...
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