Analysts Forecast 207-Bcf Drop in U.S. Natural Gas Stockpiles
Published: Jan 30, 2013
By Jerry A. DiColo
Analysts and traders expect government data scheduled for release Thursday to show a larger-than-average decline in gas inventories.
The U.S. Energy Information Administration is expected to report that 207 billion cubic feet of gas were withdrawn from storage during the week ended Jan. 25, according to the average prediction of 16 analysts and traders in a Dow Jones Newswires survey.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 205 billion cubic feet, with a high estimate of a 228-bcf drop and a low of a 196-bcf drop. The projected withdrawal comes in well above last year's 149-bcf drop in storage for the same week and above the 175-bcf five-year average build for that week.
If the storage estimate is correct, inventories as of Jan. 25 will total 2.789 trillion cubic feet, 7.2% below last year's level and 12% above the five-year average level for the same week.
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