Thursday, February 27, 2014

EIA Natural Gas Inventory: 95 BCF Withdrawal

Natural gas prices declined slightly on the news of a -95 BCF change in US Natural Gas Inventories this morning.  Gas in salt dome storage increased, signaling an increased ability to cope with upcoming cold patterns across the eastern and central US.  The low withdrawal number reflects mild weather, a rare phenomenon this winter and something that will not persist, as withdrawals are expected to increase through the first week of March, pushing inventories near 1,000 BCF.

PDF Report

But a colder outlook today pushes carryout inventory projections down slightly to 946 BCF