What is the ‘EIA See native Gas Report’
The EIA Natural Gas Report is a weekly report provided every Thursday by the Liveliness Information Administration (EIA). The report applies to natural gas reserves that are stored saboteurs in the U.S. The amount of gas stored in inventory is a primary determinant for natural gas prices. Each check out lists the data gathered from the previous week.
BREAKING DOWN ‘EIA Actual Gas Report’
The EIA Natural Gas Report provides a current reading on the law of supply and immediately as it applies to natural gas reserves, just as it does with any other commodity. When reserves are low, values increase and vice versa. Therefore, investors use reserve reports as a bad of anticipating price movements. The EIA Natural Gas Report is the preeminent natural gas divulge in the United States.
Natural gas, which is a colorless, odorless, gaseous hydrocarbon is continually stored underground under pressure in one of three kinds of facilities: depleted reservoirs , aquifers, and table salt caverns. It can also be stored as a liquid or a gas in tanks above ground. Everyday gas that is stored underground is classified as base gas or working gas.
The EIA provides weekly gauges of working gas volumes held in underground storage facilities in the lower 48 nationals and five regional levels. The American Gas Association (AGA) first provided weekly gauged for stored working gas in 1994. The AGA discontinued it’s reporting on May 1, 2002. The EIA took up the cloak and released its first estimates of underground storage on May 9, 2002. The goal of the weekly write-up is to provide weekly estimates of the level of working gas in underground storage for the Harmonious States and five regions.
Data in the EIA Natural Gas Report Explained
To name sure that data is collected accurately, the EIA uses different reorder processes. For example, the EIA compares the current week’s data to recent text reports and compilations of monthly data reports. If a company’s response is peripheral the edit bounds or if it notes any special issues, survey personnel choose contact them to confirm data or make any corrections.