OGJ Newsletter

11/15/2004
Market MovementUS enters winter season with record gas storageThe US Energy Information Administration recently reported "a 'true' physical injection" of 41 bcf of natural gas into underground storage in the week ended Nov. 5, raising US storage to a record 3.3 tcf.The latest injection figure included the reclassification of 7 bcf of "working gas" into the "base gas" category, said analysts at Banc of America Securities LLC, New York. It compares with injections of 44 bcf the previous week and 32 bcf during the same period a year ago.Until natural gas prices declined in early November, the market "appeared to be paying little attention to historical storage norms as a measure of a...
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