Natural Gas Storage Report - Jan. 23

[dan_s]

Working gas in storage was 2,423 Bcf as of Friday, January 17, 2014, according to EIA estimates. This represents a net decline of 107 Bcf from the previous week. Stocks were 598 Bcf less than last year at this time and 369 Bcf below the 5-year average of 2,792 Bcf. In the East Region, stocks were 253 Bcf below the 5-year average following net withdrawals of 67 Bcf. Stocks in the Producing Region were 75 Bcf below the 5-year average of 962 Bcf after a net withdrawal of 25 Bcf. Stocks in the West Region were 41 Bcf below the 5-year average after a net drawdown of 15 Bcf. At 2,423 Bcf, total working gas is below the 5-year historical range.

Slightly less than some analysts expected. We should see draws over 200 bcf the next two to three weeks.

[setliff]

natty just exploded thru a lot of long term resistance today to close at 5.18. probably the largest one day gain in a long long time.

[dan_s]

As I said at the luncheons

The Sweet 16 could not buck the market sell off today, but it should be good when things settle down.