US gas storage build misses target

摘要

Knoxville, Tennessee—A 57-Bcf gas storage build reported Thursday by the Energy Information Administration was well below expectations, prompting several analysts to cite greater coal-to-gas switching. Low-cost gas has lured electricity generators back to gas and put a damper on storage injections as a result, several analysts noted. “The number implied that power generators have reacted to the lowest natural gas prices in five months and have begun to start using the cheaper fuel as a fuel source,” said analyst Aaron Calder at Gelber & Associates.