Working gas in storage was 3,577 Bcf as of Friday, October 4, 2013, according to EIA estimates. This represents a net increase of 90 Bcf from the previous week. Stocks were 138 Bcf less than last year at this time and 55 Bcf above the 5-year average of 3,522 Bcf.
This is slightly bearish. We need to see lower injections starting next week. The first draw from storage usually shows up the 3rd week of November. Any significant winter weather before Thanksgiving is VERY BULLISH for gas and can support Ngas prices all winter.
Per http://www.wunderground.com/ evening temps in the upper Midwest should increase Ngas demand next week. Cold nights creeping into the Northeast by the end of next week.
Natural Gas Storage Report - October 17
Natural Gas Storage Report - October 17
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group