COM - U.S. Natural Gas Market: Peak Winter Consumption Is On The Horizon

• This Thursday, I expect the EIA to report 3,225 bcf of working gas in storage for the week ending Dec. 24.
• I anticipate seeing a draw of 137 bcf, 16 bcf larger vs. the five-year average for this time of the year.
• A near-term low in daily consumption was reached on December 25 (81.7 bcf/d). Natural gas consumption is now projected to trend higher and to remain mostly above last year's level.
• Over the next 30-day period, total natural gas demand is expected to average 129.1 bcf/d, 5.5 bcf/d more than a year ago.
• The storage surplus relative to the five-year average is projected to expand by 9 bcf by Jan. 21.

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