Energy Insights: May 9, 2012
Natural Gas closed today at a two month high on expectations of slower production and the prospect of more demand for the fuel by natural gas fired generation. Tomorrow, 5/10/2012, all eyes will be on the EIA’s storage report release at 9:30am CST. Expectations on the injection number for the week ending on 5/4/2012 range from 25Bcf to 55Bcf. This range is well below the average. Last year for this week, gas storage rose by 71 billion cubic feet, while the five-year average rise in the week is 84 billion cubic feet.