3.011 +0.037 for the front-month April's.
From the Energy Information Administration:
for week ending March 8, 2017 | Release date: March 9, 2017 | Next release: March 16, 2017
In the News:
EIA reports the earliest net increase in working gas stocks on record
Working gas stocks rose 7 billion cubic feet (Bcf) in the Lower 48 states for the week ending February 24. This is the earliest that working gas stocks have posted net injections on a national level in the history of the Weekly Natural Gas Storage Report (WNGSR), dating back to 1994. Net injections into working gas storage typically do not occur until March; and prior to this year, the earliest reported net injection reported in the WNGSR occurred for the week ending March 16 (in 2007 and again in 2012). The smallest withdrawal reported in February prior to this year totaled 24 Bcf. The stock rise is attributable to reduced demand due to warmer weather; temperatures have been considerably warmer than normal since the beginning of the new year.
According to the National Oceanic and Atmospheric Administration (NOAA), temperatures during February 2017 were the second warmest in the 123-year period of record, and the warmest since 1954. On average, temperatures were 10° F warmer than normal throughout the Lower 48 states for the week ending February 24. Heating degree-days (HDD), a measurement derived from weather temperature data to represent space heating needs for buildings, were 41% below normal during the week ending February 24. This pattern prevailed throughout the Lower 48 states, outside of the Pacific region, and was especially pronounced in key natural gas demand areas of the East and Midwest, where HDD were 26% and 55% below normal, respectively. In addition, HDD in southern regions of the country, including the East and West South Central, and South Atlantic census divisions were 48% below normal. These declines in space heating requirements resulted in significant drops in natural gas consumption.
Residential/commercial consumption of natural gas during the storage week fell from 32 Bcf/d to 22 Bcf/d, a decline of about 31% from the preceding week, according to estimates from PointLogic Energy. Although less so, industrial consumption fell 1 Bcf/d, and electric power consumption dropped 0.4 Bcf/d on the week. Meanwhile, U.S. natural gas exports held steady on the week, as increased flows of natural gas to the liquefaction facility at Sabine Pass in Louisana offset modest declines in pipeline flows to Mexico. Despite the declines in natural gas consumption, dry natural gas production held steady compared to the previous week.
Excess natural gas supplies resulted in reduced withdrawals at some facilities and increased injections in others during the week. The South Central region posted its first reported net injection this early in the year in the five-region weekly working gas storage history, dating back to 2010. Net injections at nonsalt natural gas storage facilities totaled a record 16 Bcf on the week. At the same time, both the East and Midwest regions reported their smallest net withdrawals ever reported during the first two months of the year....MUCH MORE
