Natural Gas Storage Report - Dec 31
Posted: Wed Dec 31, 2014 12:29 pm
Working gas in storage was 3,220 Bcf as of Friday, December 26, 2014, according to EIA estimates. This represents a net decline of 26 Bcf from the previous week. Stocks were 232 Bcf higher than last year at this time and 81 Bcf below the 5-year average of 3,301 Bcf.
Over the next ten weeks we need weekly draws to average 170 Bcf or it will get very ugly for natural gas prices. The weather seems to be moving in the right direction.
Last year we had several weekly draws over 250 Bcf.
Over the next ten weeks we need weekly draws to average 170 Bcf or it will get very ugly for natural gas prices. The weather seems to be moving in the right direction.
Last year we had several weekly draws over 250 Bcf.