Natural Gas Storage Report - Dec. 27
Posted: Fri Dec 27, 2013 12:03 pm
Working gas in storage was 3,071 Bcf as of Friday, December 20, 2013, according to EIA estimates. This represents a net decline of 177 Bcf from the previous week. Stocks were 591 Bcf less than last year at this time and 313 Bcf below the 5-year average of 3,384 Bcf.
It is now all but certain that storage will fall below 2,900 bcf by 12-31-2013. That is VERY BULLISH for natural gas prices. Storage has not been that low entering January since 2008 and there is a lot more space heating demand today.
It is now all but certain that storage will fall below 2,900 bcf by 12-31-2013. That is VERY BULLISH for natural gas prices. Storage has not been that low entering January since 2008 and there is a lot more space heating demand today.