Working gas in storage was 3,148 Bcf as of Friday, January 3, 2020, according to EIA estimates. This represents a net decrease of 44 Bcf from the previous week.
Stocks were 521 Bcf higher than last year at this time and 74 Bcf above the five-year average of 3,074 Bcf.
At 3,148 Bcf, total working gas is within the five-year historical range.
Over the last 13 weeks (1/4 of a year), draws from storage have been 7 Bcf higher than the five-year average.
With gas in storage now over the 5-year average and expected to go 200 Bcf over the 5-year average next week, the outlook for natural gas prices is NOT GOOD. AR and RRC have most of their gas hedged at good prices, but the Wall Street Gang will have no interest in the "gassers".
EIA - Natural Gas Storage Report - Jan 9
EIA - Natural Gas Storage Report - Jan 9
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group