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Expectations for Above-Average Draw in US Natgas Stocks: WSJ

NATURAL GAS

Natural gas inventories are expected to have declined above average levels last week, based on a survey of analysts by the WSJ.

  • The EIA is expected to report a draw of 110 bcf to 3,726 bcf in the week to Dec. 1, according to the survey.
  • All 11 analysts expect a draw in inventories, with the reduction ranging from 99-127 bcf.
  • "A much larger than normal storage withdrawal tomorrow is unlikely to spur much price support since our anticipated contraction of about 40 Bcf in the surplus could easily be offset as this month proceeds, given the continued mild weather outlooks," Ritterbusch and Associates said in a report.

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