Natural Gas Storage Report - Feb 16
Posted: Thu Feb 16, 2017 12:26 pm
Working gas in storage was 2,445 Bcf as of Friday, February 10, 2017, according to EIA estimates. This represents a net decrease of 114 Bcf from the previous week. Stocks were 303 Bcf less than last year at this time and 87 Bcf above the five-year average of 2,358 Bcf. At 2,445 Bcf, total working gas is within the five-year historical range.
Close to what was expected. Storage level should be near the 5-year average at the end of March (~1,900 Bcf) and about 600 Bcf below last year's ending storage level. Gap to last year will widen a lot over the last six weeks of winter.
Just remember IT IS NOT ALL ABOUT THE WEATHER.
> U.S. gas production is down
> Industrial, power generation and exports keep going up
Close to what was expected. Storage level should be near the 5-year average at the end of March (~1,900 Bcf) and about 600 Bcf below last year's ending storage level. Gap to last year will widen a lot over the last six weeks of winter.
Just remember IT IS NOT ALL ABOUT THE WEATHER.
> U.S. gas production is down
> Industrial, power generation and exports keep going up