...US Energy Information Administration Weekly Storage Report Estimates
The consensus is for a 22 Bcf decline in natural gas storage.And from the Energy Information Administration:
Reuters is forecasting withdrawal estimates ranging from 8 Bcf to 33 Bcf, with a median pull of 24 Bcf. Bloomberg analysts are calling for withdrawals ranging from 8 to 20 Bcf, with a median pull of 25 Bcf. Natural Gas Intelligence predicts a pull of 15 Bcf. The EIA report will be released at 15:30 GMT.
Last year, the EIA recorded a 62 Bcf withdrawal in the same week, while the five-year average stands at 41 Bcf.
NatGasWeather is blaming the Thanksgiving holiday for the wide range of estimates. “It was mild versus normal over the eastern two-thirds of the U.S., while colder versus normal over the West” during the report period, the forecaster said. “Our algorithm expects minus 15-16 Bcf, slightly bearish.”...
Weekly Natural Gas Storage Report
for week ending November 29, 2019 | Released: December 5, 2019 at 10:30 a.m.
SummaryFinally the price action from the CME for the last 10 days:
Working gas in storage was 3,591 Bcf as of Friday, November 29, 2019, according to EIA estimates. This represents a net decrease of 19 Bcf from the previous week. Stocks were 591 Bcf higher than last year at this time and 9 Bcf below the five-year average of 3,600 Bcf. At 3,591 Bcf, total working gas is within the five-year historical range...MORE
Front (January) futures 2.437 +0.038 last.
We'll be back after this afternoon's EIA's weekly update.
