EIA Natural Gas Storage Report - Mar 21

[dan_s]

Working gas in storage was 2,332 Bcf as of Friday, March 15, 2024, according to EIA estimates.
This represents a net increase of 7 Bcf from the previous week.
Stocks were 411 Bcf higher than last year at this time and 678 Bcf above the five-year average of 1,654 Bcf.
At 2,332 Bcf, total working gas is above the five-year historical range.

Thanks to some winter weather this week increasing space heating demand in the upper 1/3rd of the nation, the next two weeks draws should be much higher than the 5-year average draws. However, with storage near 2,300 Bcf heading into the refill season, it will be tough for U.S. natural gas prices to get back over $2.00 in Q2.

We must see an increase in LNG exports to rebalance the U.S. gas market.

[Fraser921]

There are some that thought my EOS of season of 2,300 was out to lunch.
The gassers need to cut production and stop wrecking the commodity that they sell, all my humble opinion