The EIA storage report for the week ending January 20 was in-line with estimates however much lower than last year. Temperatures have continued to be mild and next week the report is expected to show another below average storage draw. The latest 8-14 day weather outlook showed a growing southward cold front which will increase natural gas demand.
EIA Natural Gas Storage Data:
- Total (01/20/17): 2,798 Bcf
- Total (01/13/17): 2,917 Bcf
- Net change: -119 Bcf
- Implied flow: -119 Bcf
- Year ago stocks: 3,146 Bcf
- % change from year ago: -11.1 %
- 5-year avg stocks: 2,818 Bcf
- % change from 5-year avg: -0.7 %
