My name is Jake Swart, and I am a Junior Broker at Daniels Trading. I’ve been interning at Daniels Trading for two summers and have been feverishly learning all there is to know about the futures market. One particular area of interest of mine is the energy market. I’ve taken the time to learn about all of the resources available that can help me understand the energy futures markets.
The United States Energy Information Administration, or EIA for short, has provided me with immense information on the energy markets, and I want to share what the EIA has to offer with you. Over the next few weeks, I will be diving into the EIA Weekly Natural Gas Storage Report to help explain exactly what it is and how it is utilized by traders and policy makers alike. The weekly storage report won’t be the only thing covered though. I’ll also explore the work of EIA, what they do for the energy markets, and the intricacies of what the EIA’s reports cover.
The EIA collects and distributes data related to the energy markets, which includes natural gas, crude oil, petroleum, etc. This information is crucial in understanding the supply of energy that is available, the demand for the energy, and the effect that will have on the prices. The EIA puts out the energy information it collects on a daily, weekly, monthly, and annual basis. The information that is collected is taken from independent sources, but the EIA itself is an agency within the U.S. Department of Energy.
My hope by taking the time to go over not only the weekly storage report but also dive deeper into the EIA and the different resources that they offer is to shine a light on the information available on energy and how anyone from a seasoned energy trader to a novice trader can use it to understand the energy market and learn about price changes.
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