Canadian spot gas dips on large storage build

Thu Apr 5, 2012 5:44pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

CALGARY, Alberta (Reuters) - Canadian spot natural gas prices dipped on Thursday as U.S. data showed a larger-than-expected build in storage volumes.

Spot gas at the AECO storage hub in southeastern Alberta slipped 1 Canadian cent to average C$1.70 a gigajoule. Deals were done between C$1.66 and C$1.74 a GJ.

The U.S. Energy Information Administration said inventories in the United States rose by 42 billion cubic feet last week, compared with a Reuters survey estimate for 34 bcf.

Canadian storage volumes rose 0.5 percent to 492.5 bcf. Canadian Enerdata said facilities across the country were 69.5 percent full on average, compared with just 26.9 percent 12 months earlier.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For the NYMEX natural gas report click on <NGA/>

For the U.S. spot natural gas report click on <NGA/US>

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Environment Canada said low temperatures in Toronto will be close to normal or slightly warmer over most of the next week. Southern Alberta lows are expected to be colder than average through Monday.   Continued...