UNG - Natural Gas: Annual Storage Surplus May Be Gone In Three Weeks

• This Thursday, we expect the EIA to report 3,722 bcf of working gas in storage for the week ending December 11.
• We anticipate to see a draw of 126 bcf, which is 29 bcf larger than a year ago and 21 bcf larger vs. the 5-year average.
• If the latest weather forecast remains unchanged, annual storage surplus may be gone in three weeks.
• Next week, natural gas consumption is projected to rise by as much as 4.6 bcf/d y-o-y.
• Our latest SD balance forecast (scroll down to see the last chart).

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