Natural Gas Storage Report - March 8

[dan_s]

Working gas in storage was 1,625 Bcf as of Friday, March 2, 2018, according to EIA estimates. This represents a net decrease of 57 Bcf from the previous week. Stocks were 680 Bcf less than last year at this time and 300 Bcf below the five-year average of 1,925 Bcf. At 1,625 Bcf, total working gas is within the five-year historical range.

The next two week's storage reports should show draws over 100 Bcf.

Plus, it now looks like winter will extend into mid-April. Even small draws in April are bullish for gas because the shorten refill season.
See Joe's daily weather update where he shows national forecast for next 30 days: https://www.weatherbell.com/premium/

At least one more big snow storm will hit the Northeast next week.

Last winter ended with 2,050 Bcf in storage. By March 31, 2018 storage will be way below that. My SWAG is now 1,300 Bcf for ending storage level.