Natural Gas Storage Report - Jan 19

[dan_s]

Working gas in storage was 2,917 Bcf as of Friday, January 13, 2017, according to EIA estimates. This represents a net decline of 243 Bcf from the previous week. Stocks were 431 Bcf less than last year at this time and 77 Bcf below the five-year average of 2,994 Bcf. At 2,917 Bcf, total working gas is within the five-year historical range.

This is a bullish report.

The next two week's storage reports will be much smaller, but draws from storage in February s/b much larger than last year. Storage level should be at or below the 5-year average by the end of March.

U.S. natural gas market is MUCH TIGHTER than a year ago because IT IS NOT ALL ABOUT THE WEATHER. I will discuss this at our luncheon in Dallas on Friday, January 20.