UNG - U.S. Natural Gas Market: EOS Storage Revised Higher As The Price Continues To Rise

• This Thursday, I expect the EIA to report 1,388 bcf of working gas in storage for the week ending Apr. 1.
• I anticipate seeing a draw of 27 bcf, 35 bcf larger vs. the five-year average for this time of the year.
• The latest numerical weather prediction models agree that over the next 15 days, TDDs will be trending lower but will remain largely above the norm.
• Over the next 30-day period, total natural gas demand is expected to average 91.7 bcf/d, 0.4 bcf/d less than a year ago.
• The annual storage deficit is currently projected to shrink by 81 bcf by Apr. 29. The storage deficit relative to the five-year average is projected to shrink by 43 bcf over the same period.

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