The 190 Bcf draw is near the top of the forecasts I've seen (150 Bcf to 200 Bcf).
Working gas in storage was 3,747 Bcf as of Friday, December 6, 2024, according to EIA estimates.
This represents a net decrease of 190 Bcf from the previous week. < 101 Bcf larger draw than the 5-year average for 1st week of December.
Stocks were 67 Bcf higher than last year at this time and 165 Bcf above the five-year average of 3,582 Bcf.
At 3,747 Bcf, total working gas is within the five-year historical range.
EIA Natural Gas Storage Report - Dec 12
EIA Natural Gas Storage Report - Dec 12
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EIA Natural Gas Storage Report - Dec 12
The 190 Bcf draw was 20 Bcf larger than the Celsius Energy forecast. Their forecasts have been the most accurate this year.
These are Celsius Energy's forecast for the next three weeks ending,
> December 13: 114 Bcf < Looks too low to me.
> December 20: 90 Bcf
> December 27: 129 Bcf
>> Total of 333 Bcf compares to last year's draws of 191 Bcf. So, by December 27 NGas in storage will be 75 Bcf lower than a year ago.
Just a normal winter in the Eastern U.S and LNG exports moving over 15 Bcf per day in Q1 should push NGas storage below the 5-year average by March 31st.
Natural gas prices are $13.77 in Europe and $15.00 in Asia. Demand for U.S. LNG will remain HIGH.
These are Celsius Energy's forecast for the next three weeks ending,
> December 13: 114 Bcf < Looks too low to me.
> December 20: 90 Bcf
> December 27: 129 Bcf
>> Total of 333 Bcf compares to last year's draws of 191 Bcf. So, by December 27 NGas in storage will be 75 Bcf lower than a year ago.
Just a normal winter in the Eastern U.S and LNG exports moving over 15 Bcf per day in Q1 should push NGas storage below the 5-year average by March 31st.
Natural gas prices are $13.77 in Europe and $15.00 in Asia. Demand for U.S. LNG will remain HIGH.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group