Natural Gas Storage Report - Feb 11

[dan_s]

Working gas in storage was 2,864 Bcf as of Friday, February 5, 2016, according to EIA estimates. This represents a net decline of 70 Bcf from the previous week. Stocks were 573 Bcf higher than last year at this time and 543 Bcf above the five-year average of 2,321 Bcf. At 2,864 Bcf, total working gas is above the five-year historical range.

We need to see much larger draws than this for the next three weeks.

Getting storage down to 2,000 Bcf by the end of March is the goal.

[bearcatbob]

Working gas in storage was 2,864 Bcf as of Friday, February 5, 2016, according to EIA estimates. This represents a net decline of 70 Bcf from the previous week. Stocks were 573 Bcf higher than last year at this time and 543 Bcf above the five-year average of 2,321 Bcf. At 2,864 Bcf, total working gas is above the five-year historical range.

We need to see much larger draws than this for the next three weeks.

Getting storage down to 2,000 Bcf by the end of March is the goal.

70 BCF draw in the middle of winter? That is all one needs to know about why what is to come is irrelevant.