Thursday: For today’s EIA weekly storage report, survey averages favor a draw of -53-56 Bcf, in-line with the 5-year average of -55 Bcf. It was cooler than normal over the eastern US but warmer than normal over the western, central, and southern US. It’s a tricky build to predict due to accounting challenges associated with the Thanksgiving/Black Friday Holiday where schools and offices were closed
Thursday: For today’s EIA weekly storage report, survey averages favor a draw of -53-56 Bcf, in-line with the 5-year average of -55 Bcf. It was cooler than normal over the eastern US but warmer than normal over the western, central, and southern US. It’s a tricky build to predict due to accounting challenges associated with the Thanksgiving/Black Friday Holiday where schools and offices were closed
“Looking ahead at future withdrawals, mild weather is expected to continue to impact the storage reports on Dec. 10 and 17 as well,” said Dan Myers, analyst at Houston-based gas market consultancy Gelber & Associates.He said today’s report as well as the following two were not expected to show remarkably higher consumption compared to five-year averages.“As a result, it is likely that total storage inventories will drive closer and eventually surpass the five-year average of total storage in the near future,” said Myer