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  • Tony Zelinski

EIA Natural Gas Storage Report 01-19-23



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.

CME Natural Gas Futures 3-15-18


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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