Natural gas supplies declined by 115 Bcf for the week of January 29, 2009 with working gas in storage at 2,406 Bcf, according to Energy Information Administration (“EIA”) estimates. Stocks were 199 Bcf higher than last year at this time and 150 Bcf above the 5-year average of 2,256 Bcf. At 2,406 Bcf, total working gas is within the 5-year historical range.
Analysts polled by Platts expected a drawdown of between 121 billion and 125 billion cubic feet as natural gas futures continued to decline in price.
Advertisement
