Working gas in storage was 3,475 Bcf as of Friday, January 8, 2016, according to EIA estimates. This represents a net decline of 168 Bcf from the previous week. Stocks were 587 Bcf higher than last year at this time and 474 Bcf above the five-year average of 3,001 Bcf. At 3,475 Bcf, total working gas is above the five-year historical range.

Estimated Withdrawal 176 Bcf and 180 Bcf

Vs

Actual withdrawal 168 Bcf

A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Thursday will estimate a natural gas storage withdrawal of between 176 Bcf and 180 Bcf for the reporting week that ended January 8. A withdrawal within expectations would be less than the 220 Bcf reported at this time in 2015 but directly in line with the 178 Bcf fiveyear average. The wider range of analysts’ expectations for this week was for a withdrawal of 154 Bcf to 192 Bcf. This looks to be the largest drawdown of the heating season, but it still would be 42 Bcf less than the withdrawal at this time last year.

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