# Balances 'Way Too Loose' as Natural Gas Futures Extend Sell-Off Early

> The EIA reported a 109 Bcf natural gas storage injection for the week ending May 1, at the high end of estimates and well above the five-year average of 74 Bcf. Working gas stocks were 395 Bcf above the five-year average. Analysts said balances remain loose, although falling associated gas output is starting to tighten supply.

- Date: 2020-05-08 · published 2020-05-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10444-balances-way-too-loose-as-natural-gas-futures-extend-sell-off-early
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A large storage build signals ample supply and weighs on Henry Hub futures. Declining associated gas from lower oil drilling could tighten the balance later.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2020-05-12 | 5 | -18.0% | -3.4 | A 109 Bcf storage injection well above the five-year average, with stocks 395 Bcf above normal, signaled loose balances and fueled the selloff during the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2023-01-05 | [Bullish US natural gas storage report from EIA falls flat as NYMEX futures sell off](https://feedsoft.ai/events/9183-bullish-us-natural-gas-storage-report-from-eia-falls-flat-as-nymex-futures-sell.md) | -10.5% | -35.3% |
| NATGAS | 2022-10-21 | [Natural Gas Extends Selloff As Latest Storage Report, Freeport News Feed the Bears](https://feedsoft.ai/events/12790-natural-gas-extends-selloff-as-latest-storage-report-freeport-news-feed-the.md) | +0.3% | +20.2% |
| NATGAS | 2024-04-26 | [Weekly Natural Gas Cash Spot Prices Move Higher as Futures Stumble](https://feedsoft.ai/events/9866-weekly-natural-gas-cash-spot-prices-move-higher-as-futures-stumble.md) | +18.9% | +71.3% |
| NATGAS | 2023-07-28 | [August Natural Gas Futures Contract Limps into Expiration](https://feedsoft.ai/events/35223-august-natural-gas-futures-contract-limps-into-expiration.md) | +0.8% | -0.5% |
| NATGAS | 2024-10-31 | [Storage Upside Miss Against Averages Tricks Market, Sends Natural Gas Futures Lower](https://feedsoft.ai/events/8121-storage-upside-miss-against-averages-tricks-market-sends-natural-gas-futures.md) | -7.5% | +37.1% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/balances-way-too-loose-as-natural-gas-futures-extend-sell-off-early/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.