Thursday, January 30, 2020

EIA Natural Gas Storage Report, January 30, 2019

Have I mentioned....
Enough with that schtick, there's a lot of gas around.
New multi-year low print on the continuous contract.

First up, the expectations via FX Empire:
...Today’s EIA Weekly Storage report, due to be released at 15:30 GMT, is expected to show a draw of about 197 Bcf.
Last year the EIA recorded a 171 Bcf withdrawal for the similar week, while the five-year average is a pull of 143 Bcf.

Last week, the EIA reported a net 92 Bcf withdrawal for the week-ended January 17, which left stocks at 2,947 Bcf, 23.2% above year-ago levels and 9.3% higher than the five-year average.

Bloomberg analysts are predicting a 197 Bcf withdrawal. A Wall Street Journal surveyed forecasts a 195 Bcf withdrawal. Reuters analysts are looking for a 195 Bcf pull. Finally, Natural Gas Intelligence experts are calling for a withdrawal of 210 Bcf....
From the EIA:
Weekly Natural Gas Storage Report
for week ending January 24, 2020 | Released: January 30, 2020 at 10:30 a.m. 
Working gas in storage was 2,746 Bcf as of Friday, January 24, 2020, according to EIA estimates. This represents a net decrease of 201 Bcf from the previous week. Stocks were 524 Bcf higher than last year at this time and 193 Bcf above the five-year average of 2,553 Bcf. At 2,746 Bcf, total working gas is within the five-year historical range....MUCH MORE 
As mentioned, gas in storage is now above the 5-year average and is in fact approaching the 5-year maximum for this time of year.
Finally, from the CME:

1.82 down 0.045 after hitting 1.815