Natural Gas Storage Report - March 24

[dan_s]

Working gas in storage was 2,493 Bcf as of Friday, March 18, 2016, according to EIA estimates. This represents a net increase of 15 Bcf from the previous week. Stocks were 1,017 Bcf higher than last year at this time and 846 Bcf above the five-year average of 1,647 Bcf. At 2,493 Bcf, total working gas is above the five-year historical range.

Not too surprising that we had a small build after the very warm weather March 11-18.

A few more small draws before the real refill season starts. First half of April expected to be colder than normal in the eastern half of the U.S..

Not much hope of natural gas prices moving over $2.00/mmbtu until the summer heat ramps up demand from gas fired power plants.