What does EIA Natural Gas Report mean?
A weekly report on natural gas inventory figures, released by the US Energy Information Administration (EIA). Inventory levelinfluences natural gas prices and so markets watch inventory levels report eagerly. It is popularly known as EIA Natural Gas Storage Report.
Futures Knowledge Explains EIA Natural Gas Report
Natural gas is an important fuel but natural gas consumption in the US is very seasonal. Consumption is at the peak in the winter, when heating demand US households is highest. So during April 1 and October 31, producers build up stock by injecting produced natural gas into the underground. Inventories in 2015 have been larger than market expectations, pushing the price down. This in turn affects the profitability of natural gas producers.