Working natural gas in storage currently stands at 2,725 Bcf, which is 623 Bcf (18.6%) lower than this time last year and 647 Bcf (19.2%) lower than the five-year average.
The February 2019 NYMEX Futures price began the day around $3.39/MMBtu prior to the report’s release, but has since slightly dropped to $3.37/MMBtu after the report was posted.
Outlook for the Balance of Storage Season:
The graph below compares historical 12, 24 and 36 month strip prices and storage levels for the past 5 years.
The following table shows the injection numbers we will need to average by week to hit selected historical levels:
The following two graphs show current natural gas in storage compared to each of the last 5 years and weekly storage averages and patterns.
The graph below shows the injections through the current week over the past 5 years.
Finally, the graphics below depicts the 6 to 10 day temperature range outlook from the National Weather Service.
Current Week’s Outlook