EIA - Natural Gas Storage Report - Dec 27

[dan_s]

Working gas in storage was 3,250 Bcf as of Friday, December 20, 2019, according to EIA estimates.
This represents a net decrease of 161 Bcf from the previous week. < My guess was a 130 Bcf draw.

Stocks were 518 Bcf higher than last year at this time and 69 Bcf below the five-year average of 3,319 Bcf.
At 3,250 Bcf, total working gas is within the five-year historical range.

MY TAKE: One week is not a "trend", but what's happened during the last 13 weeks (a quarter of a year) is encouraging. Over the last 13 weeks the delta to the 5-year average has been -79 Bcf. In other words, supply & demand has been 79 Bcf tighter than the 5-year average. The next two weeks are likely to be draws that are less than the 5-year average, but they are unlikely to be enough to reverse the running 13-week bullish run. The next two weeks show 5-year average draws from storage of 96 Bcf and 131 Bcf.

[dan_s]

Winter Storm "Gage" is a major storm, but will have limited impact on natural gas demand unless the storm track moves further east; brings more cold air to the big cities around the Great Lakes. It will cause a spike in propane demand, because its track is over an area that burns a lot of propane for space heating.

See: https://weather.com/forecast/national/n ... orm-plains