Natural Gas Storage Report - Feb 19
Posted: Thu Feb 19, 2015 7:00 pm
Working gas in storage was 2,157 Bcf as of Friday, February 13, 2015, according to EIA estimates. This represents a net decline of 111 Bcf from the previous week. Stocks were 678 Bcf higher than last year at this time and 58 Bcf above the 5-year average of 2,099 Bcf.
We need to see larger draws over the next 4-6 weeks for natural gas prices to have a chance to remain over $2.50 this summer. Storage needs to be under 1,500 bcf by end of March. Next week's report needs to be around 200 bcf draw for that to happen.
We need to see larger draws over the next 4-6 weeks for natural gas prices to have a chance to remain over $2.50 this summer. Storage needs to be under 1,500 bcf by end of March. Next week's report needs to be around 200 bcf draw for that to happen.