EIA Natural Gas Storage Report 1-19-23
Summary
Working gas in storage was 2,820 Bcf as of Friday, January 13, 2023, according to EIA estimates. This represents a net decrease of 82 Bcf from the previous week.
Analyst expected today’s EIA weekly storage report to show a decrease at about 75 Bcf.
Stocks were 19 Bcf less than last year at this time and 34 Bcf above the five-year average of 2,786 Bcf. At 2,820 Bcf, total working gas is within the five-year historical range.
The 12- and 24-month Natural Gas strip prices dropped again from last week, settling yesterday at $3.553/Dth (down 5.20%) and $3.775/Dth (down 2.91%) respectively.
Updated short-term weather forecasts show lower-than-average temperatures hitting the western and central US through the end of January. The colder weather could result in a rise in gas demand, thus pushing the NYMEX gas futures prices back above $4 by later this month.
Natural Gas Futures
Read more: EIA
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