DJ US NATURAL GAS INVENTORY SURVEY: Draw Of 176 Bcf Expected

Published: Jan 25, 2012

By David Bird
Of DOW JONES NEWSWIRES


Analysts and traders expect government data scheduled for release Thursday to show a slightly smaller draw in gas inventories than occurred this time last year, as mild weather across the U.S. continues to curb demand for gas-fired heating.

The U.S. Energy Information Administration is expected to report 176 billion cubic feet of gas were drawn from storage during the week ended Jan. 20, according to the average prediction of 16 analysts and traders in a Dow Jones Newswires survey.

The EIA is scheduled to release its storage data Thursday at 10:30 a.m. EST.

The survey's median result was for a draw of 180 billion cubic feet, with estimates ranging from a 145 bcf decline to a 191 bcf draw.

The storage estimate is slightly less than last year's 184-bcf draw in storage for the same week, but slightly above the 173-bcf five-year average draw for that week.

If the storage estimate is correct, inventories as of Jan. 20 will total 3.114 trillion cubic feet, about 22% above the five-year average and 21% above last year's level for the same week.

-By David Bird, Dow Jones Newswires; 212-416-2141; david.bird@dowjones.com