EIA Natural Gas Storage Report 2-06-20
EIA Natural Gas Storage Report 2-20-20
The U.S. Energy Information Administration reported Thursday that working gas in storage was 2,609 Bcf as of Friday, January 31, 2020, according to EIA estimates. This represents a net decrease of 137 Bcf from the previous week. Stocks were 615 Bcf higher than last year at this time and 199 Bcf above the five-year average of 2,410 Bcf. At 2,609 Bcf, the total working gas is within the five-year historical range. Analysts expected a draw of 131 bcf, which is 97 bcf larger than a year ago and 12 bcf larger vs. the 5-year average. They also expect the EIA to report 2,615 bcf of working gas in storage for the week ending January 31.
Both the 12- and 24-month strip prices rose slightly from last week, settling at $2.147/Dth and $2.241/Dth respectively. The front-month contract settled 1.1 cents lower to $1.861/Dth.
This is the 12th consecutive session prices have stayed below $2/Dth. The last time prices settled below $2/Dth for such a period was in 2016, when prices averaged $1.859 between February 11 and April 18 that year.