U.S. Natural Gas Weekly – January 6, 2011

January 6th, 2011 by Belisarius

(For The Week Ending December 31, 2010)

Working gas in storage fell 135 Bcf from previous week. The consensus was at 130 Bcf.

Although the draw was above consensus, it’s a disappointment overall as storage level is only 21 Bcf lower than same time year ago. In short – a replay of last’s year oversupply.

Chart 1. Natural Gas Futures

Chart 2. Working Gas in Underground Storage Compared with 5 Year Average


 

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