Natural Gas Storage Report - Feb. 13

dan_s · Post by **dan_s** » Thu Feb 13, 2014 11:17 am

Working gas in storage was 1,686 Bcf as of Friday, February 7, 2014, according to EIA estimates. This represents a net decline of 237 Bcf from the previous week.

Stocks were 863 Bcf less than last year at this time and 631 Bcf below the 5-year average of 2,317 Bcf. In the East Region, stocks were 315 Bcf below the 5-year average following net withdrawals of 106 Bcf. Stocks in the Producing Region were 232 Bcf below the 5-year average of 845 Bcf after a net withdrawal of 89 Bcf. Stocks in the West Region were 84 Bcf below the 5-year average after a net drawdown of 42 Bcf. At 1,686 Bcf, total working gas is below the 5-year historical range.

This is very bullish. It is now all but certain that gas in storage will be under 1,400 bcf by the end of February and under 1,000 bcf by the end of March. If March "comes in like a lion" then gas prices could spike. If winter like weather drags on into April (like it did last year), then it will get very interesting.