EIA Natural Gas Storage Report 12-15-22
Summary
Working gas in storage was 3,412 Bcf as of Friday, December 9, 2022, according to EIA estimates. This represents a net decrease of 50 Bcf from the previous week.
Analyst expected today’s EIA weekly storage report to show a decrease at about 53 Bcf.
Stocks were 18 Bcf less than last year at this time and 15 Bcf below the five-year average of 3,427 Bcf. At 3,412 Bcf, total working gas is within the five-year historical range.
The first push of cold air is moving into the Northwest, Rockies, Plains and Midwest now and will reach the East Coast this weekend. A second, much more powerful Arctic air mass will plunge into the Rockies, Plains and Midwest early next week, reaching the East later next week. Strong cold in the West will be easing up gradually and by the end of next week, coastal areas will average near to above normal, but the interior areas will stay below normal.
Current weather models show much colder U.S. temperatures ahead, which are likely to be accompanied by a significant tightening in domestic gas-market fundamentals as prompt month futures have risen from mid-$5/MMBtu in early December.
Natural Gas Futures
Read more: EIA
Have you reviewed your facility Energy plan yet?
We are here to help...