Friday, January 4, 2013

Natural Gas Withdrawl From Storage: 135 Bcf, Above Average

Front futures are up 7 cents at $3.26.
The longs caught a break here. For the first five weeks of withdrawal season a total of 221 Bcf had been withdrawn from storage. The five year average during the same period is a cumulative withdrawal of 492 Bcf.
The 135 Bcf pull was above analysts estimates of 127-130 Bcf. Nuke power production is a bit over 94,200 MW, on the low side meaning gas peakers are filling in as baseload.

From the Energy Information Administration:

Released: January 4, 2013 at 10:30 a.m. (eastern time) for the Week Ending December 28, 2012.
Next Release: January 10, 2013

Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
12/28/12 12/21/12 Change Year Ago (12/28/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working Gas in Underground Storage Compared with 5-Year Range