...This week’s estimates are indicating a near-average withdrawal from Thursday’s weekly EIA storage report.
A Reuters poll shows a withdrawal of 108 Bcf for the week-ended February 28, while a Wall Street Journal survey showed a 109 Bcf pull. Bloomberg estimates a median withdrawal of 110 Bcf. Traders anticipate this week’s pull to come in at 88 Bcf to 117 Bcf. NGI’s model predicted a 106 Bcf withdrawal.
Last year, EIA recorded a 152 Bcf withdrawal for the similar week, and the five-year average pull of 106 Bcf....The report from the EIA:
for week ending February 28, 2020 | Released: March 5, 2020 at 10:30 a.m.
Working gas in storage was 2,091 Bcf as of Friday, February 28, 2020, according to EIA estimates. This represents a net decrease of 109 Bcf from the previous week. Stocks were 680 Bcf higher than last year at this time and 176 Bcf above the five-year average of 1,915 Bcf. At 2,091 Bcf, total working gas is within the five-year historical range.And the result, from the FinViz:
April futures 1.7840 down 0.430 (-2.35%) after trading down to 1.773.
