Expected Gas Storage Shortfall Becomes Surplus With Oversupply

摘要

US natural gas inventories crossed into record territory last week, putting to rest doubts about the ability of domestic output to outpace even extraordinary demand. In late August that wasn't so apparent, eliciting a Natural Gas Week Market View, headlined "Warm Fall to Put Kibosh on Any Chance for Record Storage Finale" (NGW Aug.29'11), that included this prescient pronouncement: "Bottom line: Gas inventory levels will not only have trouble challenging last year's 3,840 billion cubic foot refill... but end-of-season storage could be almost 200 Bcf under that mark at 3,650 Bcf."