NG Storage Report - January 17

dan_s · Post by **dan_s** » Thu Jan 17, 2013 11:19 am

Working gas in storage was 3,168 Bcf as of Friday, January 11, 2013, according to EIA estimates. This represents a net decline of 148 Bcf from the previous week. Stocks were 147 Bcf less than last year at this time and 316 Bcf above the 5-year average of 2,852 Bcf.

This is a bullish report since it was not very cold last week. The next two storage reports should show declines of over 200 bcf. If gas in storage is under 2,700 bcf by the end of January, there is still a shot at getting down to 2,000 bcf by the end of the heating season. That would be extremely bullish for natural gas prices.