The Platts pre-report analyst survey suggests US EIA data will show a 101-106 Bcf reduction in natural gas stocks for the latest reporting week Washington, DC - January 14, 2009 The US Energy Information Administration (EIA) on January 15 is expected to report a reduction of between 101 billion cubic feet (Bcf) and 106 Bcf in natural gas storage inventories for the week that ended Friday, January 9, according to a Platts survey of analysts. A withdrawal within expectations would be larger than the 91-Bcf pull in the same week of 2008 and bigger than the five-year average withdrawal of 88 Bcf, according to EIA data. As a result, analysts expect both the 31-Bcf surplus over last year and the 87-Bcf surplus over the five-year average to narrow. A drawdown above average or above expectations could push natural gas prices higher because it means less gas is available for consumption during the winter heating season. The broader range of analyst expectations for the week that ended Friday was for withdrawals between 89 Bcf and 137 Bcf. "The week of January 25 however, we are up against the highest ever withdrawal of 274 Bcf," he said. "It's very unlikely this year's draw will come close, unless weather predictions change dramatically."
The US Energy Information Administration (EIA) on January 15 is expected to report a reduction of between 101 billion cubic feet (Bcf) and 106 Bcf in natural gas storage inventories for the week that ended Friday, January 9, according to a Platts survey of analysts.
A withdrawal within expectations would be larger than the 91-Bcf pull in the same week of 2008 and bigger than the five-year average withdrawal of 88 Bcf, according to EIA data. As a result, analysts expect both the 31-Bcf surplus over last year and the 87-Bcf surplus over the five-year average to narrow.
A drawdown above average or above expectations could push natural gas prices higher because it means less gas is available for consumption during the winter heating season.
The broader range of analyst expectations for the week that ended Friday was for withdrawals between 89 Bcf and 137 Bcf.
"The week of January 25 however, we are up against the highest ever withdrawal of 274 Bcf," he said. "It's very unlikely this year's draw will come close, unless weather predictions change dramatically."