This weeks’ EIA natural gas storage report.  Working gas in storage was 2,479 Bcf as of Friday, March 4, 2016, according to EIA estimates. This represents a net decline of 57 Bcf from the previous week. Stocks were 911 Bcf higher than last year at this time and 727 Bcf above the five-year average of 1,752 Bcf. At 2,479 Bcf, total working gas is above the five-year historical range.

Estimated Storage withdrawal between 55 Bcf and 59 Bcf

Vs

Actual 57 Bcf

Storage rocketing to end-of-season high Analysts are predicting yet another bearish withdrawal from gas in underground storage, which all but ensures stocks will peak at an alltime high when entering injection season later this month. A consensus of analysts surveyed by Platts expects the US Energy Information Administration will estimate a gas storage withdrawal of between 55 Bcf and 59 Bcf for the reporting week that ended March 4 A withdrawal within expectations would be substantially less than the 174-Bcf withdrawal reported at this time in 2015 and less than the 118-Bcf five-year average withdrawal, according to EIA data.

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