Energy Prospectus

EIA reported a draw of -201 Bcf for the week ending 1/24/2020. This was smaller than the median estimate of -207 Bcf. Today’s stat fell within the expected range, which was -180 Bcf on the more bearish end, and -226 Bcf on the more bullish end.

Prices were down in the five minutes following the announcement, to $1.842, from $1.856 just before 9:30am.

Working gas in storage was 2,746 Bcf as of Friday, January 24, 2020, according to EIA estimates.

This represents a net decrease of 201 Bcf from the previous week.

Stocks were 524 Bcf higher than last year at this time and 193 Bcf above the five-year average of 2,553 Bcf. At 2,746 Bcf, total working gas is within the five-year historical range.