Natural Gas Storage Report - Jan 22

dan_s · Post by **dan_s** » Thu Jan 22, 2015 4:02 pm

Working gas in storage was 2,637 Bcf as of Friday, January 16, 2015, according to EIA estimates. This represents a net decline of 216 Bcf from the previous week. Stocks were 199 Bcf higher than last year at this time and 153 Bcf below the 5-year average of 2,790 Bcf.

We need to see draws from storage average over 200 BCF for the nine weeks in January & February. If so, Ngas price has a good chance at firming up a bit and averaging over $3.00 in 2015. So far so good. Weather forecast for first two weeks of February looks very promising for natural gas demand.