EIA - Natural Gas Storage Report - Jan 26

[dan_s]

Working gas in storage was 2,729 Bcf as of Friday, January 20, 2023, according to EIA estimates.
This represents a net decrease of 91 Bcf from the previous week.
Stocks were 107 Bcf higher than last year at this time and 128 Bcf above the five-year average of 2,601 Bcf.
At 2,729 Bcf, total working gas is within the five-year historical range.

There are exactly ten more weeks until March 31. The 5-year average draw for the next ten weeks (Jan 21 to Mar 31) is 1004 Bcf.

If this year's draws are "average", storage will be close to 1,597 Bcf.

The 5-year average storage level on March 31st is 1,540 Bcf.

Based on the weather forecast the next two weeks draws should total 300 to 350 Bcf. The forecast for the week ending Feb 3 looks very bullish for natural gas demand. You can scroll through the 10 day U.S. weather forecasts here: https://weather.com/maps/tendayforecast

The large cities around the Great Lakes Region burn a lot of natural gas when the nights are below freezing.