EIA- Natural Gas Storage Report – January 18, 2018

EIA- Natural Gas Storage Report – January 18, 2018

The EIA reported today a net gas withdraw of -183 Bcf for the week ending January 12, 2018, which was less than the market predicted -199 Bcf.  The withdraw was also lower than last years withdraw of -230 Bcf and the five-year average of -203 Bcf.  Natural gas inventories stand at 2,584 Bcf compared to last years 2,952 Bcf and the five-year average of 2,946 Bcf.   The Nymex prompt month is currently trading five cents below its previous settle price at $3.10/MMBtu.

 

The 6-10 day forecast favors lower natural gas prices:

 

 

 

 

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