Thursday, November 15, 2012

Natural Gas: First Storage Withdrawls of the Season (Heating Degree Days)

The market isn't looking for a big drawdown in today's report, the futures are off a penny at $3.75.
Expect supply of around 69 Bcf/day with demand being harder to get a handle on. Here are the AGA stats for the week ended 11/10:
For the week ending November 10, the weather in the United States was 5.9 percent colder than last year and was 5.9 percent colder than normal. All regions experienced colder temperatures than last year except W.N. Central, W.S. Central, Mountain and Pacific. All regions experienced colder temperatures than normal except W.N. Central, W.S. Central, Mountain and Pacific. For the month of October, the United States was 7.1 percent colder than last year and 3.2 percent warmer than normal....MORE
I saw the Bloomberg poll was looking for a 10-14 Bcf withdrawl, didn't see Platt's.