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Wednesday, July 18, 2012

Plant Shutdowns Bullish for Natural Gas

"[U]nexpected outages at four U.S. East Coast nuclear power plants on Wednesday helped drive the gains. The outages, totaling about 3,500 megawatts, could add as much as 700 million cubic feet, or more than 1 percent, to daily gas demand.
[...]
A Reuters poll of industry traders and analysts on Wednesday showed most expected stocks to have gained 34 billion cubic feet last week, a build that would again sharply cut the inventory surplus to last year and the five-year average. Stocks rose an adjusted 67 bcf during the same week last year."

Posted by CP at 11:03 PM

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