GAZB - Natural Gas Market: Withdrawal Season Will Begin Next Week
- This Thursday, we expect the EIA to report 3,922 bcf of working gas in storage for the week ending October 16.
- We anticipate to see a build of 45 bcf, which is 47 bcf smaller than a year ago and 30 bcf smaller vs. the 5-year average.
- The storage "surplus" relative to the 5-year average is projected to shrink by 194 bcf by November 20.
- Next week, the number of nationwide HDDs is currently projected to surge by as much as 88.1% w-o-w (from 50 to 94).
- On November 5, the EIA is expected to report the first storage draw (for the week ending October 30).
For further details see:
Natural Gas Market: Withdrawal Season Will Begin Next Week