EIA - Natural Gas Storage Report - Jan 25

[dan_s]

Working gas in storage was 2,856 Bcf as of Friday, January 19, 2024, according to EIA estimates.
This represents a net decrease of 326 Bcf from the previous week.
Stocks were 110 Bcf higher than last year at this time and 142 Bcf above the five-year average of 2,714 Bcf.
At 2,856 Bcf, total working gas is within the five-year historical range.

We need one more Polar Vortex to push the storage level to a deficit.

For the week ending January 26 the 5-year average draw is 187 Bcf. My guess is that next week's draw will exceed that since well freeze offs take time to get back online.

Since demand for U.S. natural gas is MUCH HIGHER than it was five years ago, IMO if storage gets back to the 5-year average it is a "Tight" US gas market.