EIA - Natural Gas Storage Report - Nov 25

[dan_s]

EIA's ngas storage report came out a day early this week because of Thanksgiving.

Working gas in storage was 3,940 Bcf as of Friday, November 20, 2020, according to EIA estimates. This represents a net decrease of 18 Bcf from the previous week.
Stocks were 322 Bcf higher than last year at this time and 250 Bcf above the five-year average of 3,690 Bcf.
At 3,940 Bcf, total working gas is within the five-year historical range.

Mild weather during the first half of November has been offset a bit by LNG exports that have been near capacity of 10 Bcf per day. Next week's report should show a draw of ~40 Bcf and then winter starts in December. Keep an eye on Chicago weather. When the highs are below freezing in Chicago each day for a week, we should see triple digit draws from storage.

Here is a good website for tracking weather related demand for natural gas: https://www.celsiusenergy.net/p/intraday-weather.html