Natural gas in storage drops 172 Bcf

Natural gas in storage fell 172 billion cubic feet (“Bcf”)  in the week ended February 19, 2010 according to  Energy Information Administration (“EIA”). Analysts polled by Dow Jones Newswires were expecting a withdrawal of 168 billion cubic feet.  Colder-than-normal temperatures possibly contributed to the above-normal rate of withdrawals during this report week. Working gas in storage was 1,853 Bcf which is 56 Bcf less than last year at this time and 13 Bcf above the 5-year average of 1,840 Bcf.  At 1,853 Bcf, total working gas is within the 5-year historical range.