Natural Gas Bulls Make Last Stand Amid Final Cold Wave Of Heating Season

February 28, 2013

We examine the latest developments in the natural gas market.

 

Natural gas was steady near one-month highs after the Energy Information Administration reported that operators withdrew 171 billion cubic feet from storage last week, within the 166 to 175 bcf withdrawal most analysts were expecting.

However, the withdrawal was above last year’s draw of 82 bcf and the five-year average draw of 118 bcf.

 

 

In turn, inventories now stand at 2,229 bcf, which is 284 bcf below the year-ago level and 304 bcf above the five-year average (calculated using a slightly different methodology than the EIA).

 

 

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