Energy Prospectus

Working gas in storage was 2,197 Bcf as of Friday, January 26, 2018, according to EIA estimates. This represents a net decrease of 99 Bcf from the previous week. Stocks were 526 Bcf less than last year at this time and 425 Bcf below the five-year average of 2,622 Bcf. At 2,197 Bcf, total working gas is within the five-year historical range.

About the draw that I was expecting. Storage at the end of March s/b 1,000 to 1,200 Bcf, which is 500 to 700 below the 5-year average. At 600 Bcf below the 5-year average it will add 3 Bcfpd of addition demand.

Based on U.S. weather forecast, natural gas in storage should drop below 1,600 Bcf by the end of February. Weekly draws over 200 Bcf in February are rare and we may see two this year.