" Early injection estimates for this week's EIA report range
from 63 bcf to 76 bcf, which would easily drive stocks to new
highs. This week's report is so far expected to be released as
usual on Thursday despite the EIA delaying other reports this
week due to the storm."
Repeat quoted the story as it was written today in Reuters, but I believe Reuters intended 'stocks' to mean the inventory level because they of all people know the difference. Could be easily misconstrued by the casual investor though...
So an injection for the week ended 10/26/12 of even 63bcf puts us at 3906 bcf. That compares to a 2011 similar week injection of 78 bcf and an ending inventory level of 3794 bcf for the week ended 10/28/11. THEN you've got the storm impact that won't show up until the following injection, which by comparison was only 37 bcf for the week ended 11/04/11. We could be pushing 4000 bcf for the week ended 11/02/12. That is 94.4% of the way to max capacity and 3.8% higher than nat gas inventory has ever been in history. So yes, by all means the price of NG should go up!