EIA - Natural Gas Storage Report - Jan 28

[dan_s]

Working gas in storage was 2,881 Bcf as of Friday, January 22, 2021, according to EIA estimates. This represents a net decrease of 128 Bcf from the previous week.
Stocks were 78 Bcf higher than last year at this time and 244 Bcf above the five-year average of 2,637 Bcf.
At 2,881 Bcf, total working gas is within the five-year historical range.

Over the next few weeks, we should see storage draws much higher than the 5-year average. If storage is under 2,000 Bcf by the end of February, we should see storage back to the 5-year average by the end of March. As I mentioned in today's newsletter, thanks to much higher exports of LNG this year we should see draws from storage well into April.