Natural Gas Storage Report - March 12

dan_s · Post by **dan_s** » Fri Mar 13, 2015 2:07 pm

Working gas in storage was 1,512 Bcf as of Friday, March 6, 2015, according to EIA estimates. This represents a net decline of 198 Bcf from the previous week. Stocks were 483 Bcf higher than last year at this time and 225 Bcf below the 5-year average of 1,737 Bcf.

Return of cold weather to eastern half of U.S. around March 20 should be quite bullish for storage levels, which I now expect to dip below 1,300 Bcf by mid-April. This last blast of winter weather should give some support to natural gas prices this summer, although I don't think we will see gas over $3.00 until late this year. Outlook for gas is much brighter beyond 2015.