Natural Gas Storage Report - Nov. 6

[dan_s]

Working gas in storage was 3,571 Bcf as of Friday, October 31, 2014, according to EIA estimates. This represents a net increase of 91 Bcf from the previous week. Stocks were 238 Bcf less than last year at this time and 261 Bcf below the 5-year average of 3,832 Bcf.

This is bearish.

We should see injections dropping sharply the next two week and draws starting by Thanksgiving.

[dan_s]

Natural gas prices are moving higher on this forecast of a major winter storm by Thanksgiving.

http://theweathercentre.blogspot.com/20 ... storm.html

Up to 12 inches of snow in the upper Midwest next week.

[dan_s]

Despite a rather bearing storage report, natural gas price moved up over 15 cents an mcf today as a major snow storm is now be confirmed by several weather services. See: http://theweathercentre.blogspot.com/

This storm will also increase demand for home heating oil.

[mikelp]

weather reports are calling this one the return of the Polar Vortex. " Let it snow, let it snow, let it snow"