Natural Gas Storage Report - October 27

[dan_s]

Working gas in storage was 3,909 Bcf as of Friday, October 21, 2016, according to EIA estimates. This represents a net increase of 73 Bcf from the previous week. Stocks were 52 Bcf higher than last year at this time and 182 Bcf above the five-year average of 3,727 Bcf. At 3,909 Bcf, total working gas is above the five-year historical range.

25th week in a row that increase has been below the 5-year average.

Mother Nature will soon be in charge. The weather from mid-November to end of December will have a lot to do with where gas prices go next year. We should see two more builds before the real beginning of the winter heating season. With supply/demand at least 4 Bcf per day tighter than last year it should be a very interesting first quarter.

At the beginning of last winter's heating season there was 4,009 Bcf in storage.