Thursday, January 5, 2017

EIA Natural Gas Inventory Falls 49 BCF, Much Less Than Expected

Analysts were looking for a draw around 80+ BCF for the holiday week ended Dec 30, and the market sold off after a 49 BCF draw was reported.  It left inventories at 3.311 TCF, implying that working inventories will end the year at about 3.3 TCF.

This small withdrawal managed to maintain inventories slightly below the 5 year average, for only the second week this year:

Regionally, surpluses remained in Midwest (+17), Mountain (+26) and South Central (+33), and deficits to the 5 year average in East (-58) and Pacific (-39).