EIA - Natural Gas Storage Report - Oct 29

[dan_s]

Working gas in storage was 3,955 Bcf as of Friday, October 23, 2020, according to EIA estimates. This represents a net increase of 29 Bcf from the previous week.
Stocks were 285 Bcf higher than last year at this time and 289 Bcf above the five-year average of 3,666 Bcf.
At 3,955 Bcf, total working gas is above the five-year historical range.

Quite bullish: In just the last 4 weeks the storage builds have been 120 Bcf below the 5-year average. Only 40-50 Bcf of that can be blamed on hurricanes, so the rest of it is lower gas production combined with rising LNG exports.

Over the next three weeks, storage should build another 50-70 Bcf and then draws from storage will begin. FEAR of storage filling (~4,200 Bcf) before winter draws begin is now totally gone.

Next week's report will include this week's cold front that got all the way down to Houston (earliest we have ever had to turn on our furnace) and Hurricane Zeta shut-ins in central GOM.

This website will help you judge how much winter weather is increasing natural gas demand for space heating: https://www.celsiusenergy.net/p/intraday-weather.html