The U.S. Energy Information Administration reported a 209 Bcf draw from storage inventories for the week ending December 16th. The forecast had been for a lower withdrawal. After a price jump of almost 10% the day before, the market stayed steady after the news. Changing winter weather forecasts throughout N.A. have created a volatile natgas market.
EIA Natural Gas Storage Data:
- Total (12/16/16): 3,597 Bcf
- Total (12/09/16): 3,806 Bcf
- Net change: -209 Bcf
- Implied flow: -209 Bcf
- Year ago stocks: 3,823 Bcf
- % change from year ago: -5.9 %
- 5-year avg stocks: 3,519 Bcf
- % change from 5-year avg: 2.2 %
