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EIA US Gas Storage Withdrawal of 95bcf Expected: BNEF

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The US EIA gas storage data due for release at 10:30ET (15:30GMT) is expected to show a withdrawal of 95bcf for the week ending Feb. 7, according to BNEF.

  • A Bloomberg survey average suggests a draw of 96bcf on the week while a Reuters survey shows a 106bcf draw and WSJ a 96bcf draw. The seasonal five year average shows a net withdrawal of around 144bcf.
  • EIA data last week showed total working gas in storage was at 2,397bcf after a withdrawal of 174bcf on the week. US storage was 111bcf below the seasonal five year average of 2,508bcf and 208bcf lower than a year ago.
  • BNEF estimate total consumption down 9.7bcf/d w/w to 107.7bcf/d driven by a decline in both residential/commercial and power gen demand.
  • Total supply is estimated higher on the week by 0.9bcf/d to 92.8bcf/d with an increase in production partly offset by an increase in LNG exports and small drop in Canadian imports.
  • The early view for the week ending Feb. 14 from BNEF is for a withdrawal of 172bcf.
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The US EIA gas storage data due for release at 10:30ET (15:30GMT) is expected to show a withdrawal of 95bcf for the week ending Feb. 7, according to BNEF.

  • A Bloomberg survey average suggests a draw of 96bcf on the week while a Reuters survey shows a 106bcf draw and WSJ a 96bcf draw. The seasonal five year average shows a net withdrawal of around 144bcf.
  • EIA data last week showed total working gas in storage was at 2,397bcf after a withdrawal of 174bcf on the week. US storage was 111bcf below the seasonal five year average of 2,508bcf and 208bcf lower than a year ago.
  • BNEF estimate total consumption down 9.7bcf/d w/w to 107.7bcf/d driven by a decline in both residential/commercial and power gen demand.
  • Total supply is estimated higher on the week by 0.9bcf/d to 92.8bcf/d with an increase in production partly offset by an increase in LNG exports and small drop in Canadian imports.
  • The early view for the week ending Feb. 14 from BNEF is for a withdrawal of 172bcf.