Natural Gas Storage Report - Ocober 11

[dan_s]

Working gas in storage was 3,725 Bcf as of Friday, October 5, 2012, according to EIA estimates. This represents a net increase of 72 Bcf from the previous week. Stocks were 236 Bcf higher than last year at this time and 269 Bcf above the 5-year average of 3,456 Bcf.

There is now a very good chance that we will see natural gas over $4/mmbtu in January. A cold start to winter and we could see $4.50/mmbtu.

[setliff]

yesterday, it was morgasn stanley, i think, that is predicting $5 natty in 1q.