Analysts and traders expect government data scheduled for release Thursday to show a smaller-than-normal draw in gas inventories, as mild weather across the U.S. continues to curb demand for gas-fired heating.
| The U.S. Energy Information Administration is expected to report 119 billion cubic feet of gas were drawn from storage during the week ended Feb. 10, according to the average prediction of 19 analysts and traders in a Dow Jones Newswires survey. |
| The EIA is scheduled to release its storage data Thursday at 10:30 a.m. ET. |
| The survey’s median result was for a draw of 120 billion cubic feet, with estimates ranging from a 85 bcf decline to a 133 bcf draw. The storage estimate is less than last year’s 230-bcf draw in storage for the same week, and less than the 178-bcf five-year average draw for the week. |
| If the storage estimate is correct, inventories as of Feb. 10 will total 2.769 trillion cubic feet, about 39% above the five-year average and 42% above last year’s level for the same week. |
Tags: EIA Natural gas storage, energy commodity risk management, energy risk management, natural gas storage estimate, Storage estimate for Natural Gas Inventory, storage expectation - NG
