Natural Gas Storage Report - Feb 14
Posted: Thu Feb 14, 2019 10:42 am
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.
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.