- This Thursday, we expect the EIA to report 1,785 bcf of working gas in storage for the week ending March 12.
- We anticipate to see a draw of 8 bcf, which is 7 bcf smaller than a year ago and 51 bcf smaller vs. the five-year average.
- Over the next 30-day period, total natural gas demand (consumption + exports) is expected to average 93.3 bcf/d, 3.0 bcf/d lower than a year ago.
- Storage deficit relative to the 5-year average is projected to shrink by 132 bcf by April 16.
- Although natural gas is not particularly expensive, we think that the fundamentals are still mostly bearish.
For further details see:
Natural Gas: Our Storage Level Outlook Is Still Bearish Relative To Market Expectations