Working gas in storage was 3,756 Bcf as of Friday, December 25, 2015, according to EIA estimates. This represents a net decline of 58 Bcf from the previous week. Stocks were 532 Bcf higher than last year at this time and 448 Bcf above the five-year average of 3,308 Bcf. At 3,756 Bcf, total working gas is above the five-year historical range.

Estimated Storage withdrawal of 53 Bcf – 57 Bcf

Versus

Actual 58 Bcf

The US Energy Information Administration is expected to estimate a natural gas storage withdrawal of between 53 Bcf and 57 Bcf for the reporting week that ended December 25, according to a consensus of analysts surveyed by Platts. EIA plans to announce its storage report at 10:30 am EDT Thursday. A withdrawal within expectations would be well above the 26-Bcf withdrawal reported at this time in 2014 but well below the 95-Bcf fiveyear average withdrawal. The wider range of analysts’ expectations for this week was for a withdrawal of 39 Bcf to 71 Bcf. Last week, EIA reported a 32 Bcf withdrawal, which lowered inventories to 3.846 Tcf, which was 561 Bcf, or about 17%, above the year-ago inventory of 3.253 Tcf, and 411 Bcf, or about 12%, more than the five-year average of 3.403 Tcf. “Regionally, the largest withdrawals are expected from the East and Midwest regions, each of which saw average temperatures drop 7 degrees compared to the previous week to 51 and 40 degrees F respectively,” according to the Weekly Storage Report published by Platts unit Bentek Energy

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