EIA Nat Gas stocks estimate

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EIA Nat Gas stocks estimate

Wednesday, February 27, 2013 2:08 PM Central Time
Submitted by Brian Wagner

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The weekly inventory report on Thursday that is expected to show a larger natural-gas withdrawal than the previous week's 127 billion cubic feet. The U.S. Energy Information Administration releases the data at 9:30 a.m. CST Thursday. Analysts predict 166 billion cubic feet of gas were withdrawn from storage last week. The estimate is greater than last year's 106 bcf withdrawal in the same week and the five-year average decline of 118 bcf for that week. The strong withdrawal forecasts come in the wake of colder-than-normal temperatures last week, which likely raised natural-gas demand and eased the expanded stockpiles of natural gas.

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