Thursday, April 26, 2018

Natural Gas Fill Has Not Yet "Turned The Corner" -- April 26, 2018

So, from yesterday (Wednesday, April 25, 2018):
The next natural gas fill/withdrawal data will be released by the EIA tomorrow (Thursday, April 26, 2018).
This is what is/was forecast.
  • this Thursday (tomorrow), we expect EIA to report 1,287 bcf of working gas in storage for the week ending April 20.
  • 2e anticipate to see a draw of 12 bcf, which is 83 bcf larger than a year ago and 72 bcf larger vs. 5-year average.
How did that forecast work out? Actual results:
  • working gas in storage: 1,281 bcf (net change: - 18 bcf)
  • a draw of 18 bcf (vs 12 bcf predicted)
  • the forecast: almost spot on
As predicted by Platts, it looks like this will be the "longest stretch" for natural gas before "turning the corner."

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