EIA Natural Gas Storage Report - Nov 7

[dan_s]

Working gas in storage was 3,729 Bcf as of Friday, November 1, 2019, according to EIA estimates. This represents a net increase of 34 Bcf from the previous week.
Stocks were 530 Bcf higher than last year at this time and 29 Bcf above the five-year average of 3,700 Bcf.
At 3,729 Bcf, total working gas is within the five-year historical range.

November 15th is the official end of "Refill Season", but this year Old Man Winter decided to arrive two weeks early.

Prior to this report we had 14 straight weeks of storage builds larger than the 5-year average. This week's report shows a build 29 Bcf below the 5-year average.

The 5-year averages for the next two weeks are builds of 46 Bcf and 10 Bcf. So... we could see a gas in storage move more than 100 Bcf below the 5-year average in the next two weeks.
Here is why: https://weather.com/forecast/regional/n ... =hp-slot-3

The U.S. needs about 3,800 Bcf in storage in mid-November to safely make it thought a normal winter without some regional shortages.

The long-range forecast is for a slightly warmer than normal start it December with much colder weather in the eastern 2/3rds of the U.S. in January & February.

[dan_s]

We just sent out an EPG Flash Alert that contains a link to a very informative video on the natural gas market. I highly recommend that all of you watch it.