EIA - Natural Gas Storage Report - Dec 15

[dan_s]

Working gas in storage was 3,412 Bcf as of Friday, December 9, 2022, according to EIA estimates.
This represents a net decrease of 50 Bcf from the previous week.
Stocks were 18 Bcf less than last year at this time and 15 Bcf below the five-year average of 3,427 Bcf.
At 3,412 Bcf, total working gas is within the five-year historical range.

Next week's report (for week ending Dec 16) should be a draw of ~90 Bcf (my SWAG) and then we may see the first 200 Bcf draw for the week ending Dec 23. There has not been a 200+ Bcf draw in December for at least ten years.

My SWAG is that working gas in storage will be under 3,000 Bcf on 12-31-2022. This means that just normal winter weather in Q1 should push storage down to 1,000 Bcf by the end of March, which would be bullish for natural gas prices throughout 2023.