EIA Natural Gas Storage Report - Jan 3

[dan_s]

Working gas in storage was 3,413 Bcf as of Friday, December 27, 2024, according to EIA estimates.
This represents a net decrease of 116 Bcf from the previous week.
Stocks were 67 Bcf less than last year at this time and 154 Bcf above the five-year average of 3,259 Bcf.
At 3,413 Bcf, total working gas is within the five-year historical range.

Next week's storage report for the week ending January 3rd is expected to show a draw of 60 to 80 Bcf, which is much lower than the 5-year average draw of 172 Bcf for the first week ending in January. After that, the storage reports will be very bullish thanks to Winter Storm Brair.

My SWAG (Scientific Wild Ass Guess) is that close to a Tcf of natural gas will be drawn from storage from December 28 to January 31.

CelsiusEnergy forecasts for the next three weeks
66 Bcf for week ending Jan 3
267 Bcf for week ending Jan 10
263 Bcf for week ending Jan 17