GAZB - Natural Gas: Annual Storage Surplus Is Currently Projected To Shrink By More Than 300 Bcf In Just 4 Weeks
- Currently, we expect the EIA to report a draw of 135 bcf next week (a final estimate will be released on Wednesday).
- Annual storage surplus is projected to shrink by 333 bcf by February 5.
- Our storage level outlook is still very bullish vs. market expectations.
- If the latest weather forecast remains unchanged, total natural gas demand in the U.S. will rise by 8.8 bcf/d y-o-y over the next two weeks.
- Concurrently, total supply is projected to decline by 1.5 bcf/d y-o-y over the same period.
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Natural Gas: Annual Storage Surplus Is Currently Projected To Shrink By More Than 300 Bcf In Just 4 Weeks