US EIA Changes to Gas Storage Report May Calm the Market, Analysts Say

The US Energy Information Administration plans to monitor the movement of gas in and out of storage in an attempt to clarify the weekly inventory report for natural gas. This is due to the reclassification of this gas from base to working, and working to base which sometimes affects the estimated net storage change in the EIA’s weekly report, further influencing and creating uncertainty in the market.

The report will remain the same apart from an added “implied flow” column that will reflect the difference in working gas inventories between weeks and exclude reclassifications. This will hopefully provide greater transparency by EIA in their weekly, which aims to reduce possible market issues and general uncertainty. Users will now be able to find the reclassification number directly each week rather than having to figure it out themselves based on data from the current and previous week’s reports. These changes are expected to go live after an initial testing period that will occur later this year.

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