Natural Gas Storage Report - Feb 14

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Natural Gas Storage Report - Feb 14

Post by dan_s »

Working gas in storage was 1,882 Bcf as of Friday, February 8, 2019, according to EIA estimates. This represents a net decrease of 78 Bcf from the previous week. Stocks were 30 Bcf less than last year at this time and 333 Bcf below the five-year average of 2,215 Bcf. At 1,882 Bcf, total working gas is within the five-year historical range.

This is a bearish report, but weather forecasts for the last two weeks of February are supporting gas prices for now.

The 5-year average storage level on March 31st is 1,637 BCF, so we are sure to end this winter way below that level.
Dan Steffens
Energy Prospectus Group
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