EIA - Natural Gas Storage Report - Dec 19
Posted: Thu Dec 19, 2019 11:11 am
Working gas in storage was 3,411 Bcf as of Friday, December 13, 2019, according to EIA estimates. This represents a net decrease of 107 Bcf from the previous week.
Stocks were 618 Bcf higher than last year at this time and 9 Bcf below the five-year average of 3,420 Bcf.
At 3,411 Bcf, total working gas is within the five-year historical range.
Aegis Energy: "EIA reported a draw of -107 Bcf for the week ending 12/13/2019. This was larger than the median estimate of -93 Bcf. Today’s stat fell outside the expected range, which was -80 Bcf on the more bearish end, and -102 Bcf on the more bullish end. Prices were down in the five minutes following the announcement, to $2.249, from $2.254 just before 9:30am."
Mild weather for the eastern 2/3rds of U.S. for remainder of December is keeping a lid on natural gas prices.
Stocks were 618 Bcf higher than last year at this time and 9 Bcf below the five-year average of 3,420 Bcf.
At 3,411 Bcf, total working gas is within the five-year historical range.
Aegis Energy: "EIA reported a draw of -107 Bcf for the week ending 12/13/2019. This was larger than the median estimate of -93 Bcf. Today’s stat fell outside the expected range, which was -80 Bcf on the more bearish end, and -102 Bcf on the more bullish end. Prices were down in the five minutes following the announcement, to $2.249, from $2.254 just before 9:30am."
Mild weather for the eastern 2/3rds of U.S. for remainder of December is keeping a lid on natural gas prices.