to 2705
Not much for the 12/28 report
Oil had massive builds in gasoling and distillate thanks to low consumption Christmas week
http://ir.eia.gov/wpsr/overview.pdf
Thanks Patrick!
For the weather affecting residential heating demand and natural gas prices, go here:
EIA storage report -20 BCF..........bearish.
| Working gas in underground storage, Lower 48 states Summary text CSV JSN | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||||||||||||
| Stocks billion cubic feet (Bcf) | Year ago (12/28/17) | 5-year average (2013-17) | |||||||||||||||||||||||
| Region | 12/28/18 | 12/21/18 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
| East | 661 | 676 | -15 | -15 | 746 | -11.4 | 764 | -13.5 | |||||||||||||||||
| Midwest | 798 | 818 | -20 | -20 | 884 | -9.7 | 892 | -10.5 | |||||||||||||||||
| Mountain | 147 | 150 | -3 | -3 | 185 | -20.5 | 184 | -20.1 | |||||||||||||||||
| Pacific | 220 | 223 | -3 | -3 | 270 | -18.5 | 296 | -25.7 | |||||||||||||||||
| South Central | 878 | 858 | 20 | 20 | 1,070 | -17.9 | 1,127 | -22.1 | |||||||||||||||||
| Salt | 296 | 274 | 22 | 22 | 305 | -3.0 | 323 | -8.4 | |||||||||||||||||
| Nonsalt | 582 | 584 | -2 | -2 | 766 | -24.0 | 804 | -27.6 | |||||||||||||||||
| Total | 2,705 | 2,725 | -20 | -20 | 3,155 | -14.3 | 3,265 | -17.2 | |||||||||||||||||
From Natural Gas Intelligence 21 minutes after the report was released:
Natural Gas Futures Take Hit as ‘Extremely Loose’ EIA Storage Number Surprises Market
11:21 AM
The Energy Information Administration on Friday reported a 20 Bcf withdrawal from natural gas stocks for the week ended Dec. 28..
Storage is still well below the previous 5 year range and last year but has been closing the gap fast recently, now -550 bcf vs last year.
These were the extraordinarily mild temperatures for the 7 day period in this last EIA report:
No doubt this was very bearish, but the holiday week related slowdown may have been unrestimated.