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Weekly Natural Gas Storage Report for January 20th

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Miguel A. Rodriguez
Miguel A. Rodriguez
20 January 2023

Here are the latest details from the U.S. Energy Information Administration regarding natural gas inventories for the past week.  

On Thursday, natural gas futures fell over 4% to close at 3.38, an 18-month low. Working gas in storage was 2,820 Bcf as of Friday, January 13, 2023, according to EIA estimates. This represents a net decrease of 82 Bcf from the previous week. Stocks were 19 Bcf less than last year at this time, and 34 Bcf above the five-year average of 2,786 Bcf.  

 

At 2,820 Bcf, total working gas is within the five-year historical range. According to analysts, utilities drew less gas from storage than typical last week since the weather was warmer than usual, keeping heating demand low. 

 

 

Source: ir.eia.gov. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.