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Weekly US gas pull slightly misses analyst estimates at 73 Bcf


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Weekly US gas pull slightly misses analyst estimates at 73 Bcf

Storage operators withdrew a net 73 Bcf from natural gas inventories in the Lower 48 during the week to Dec. 6, versus the five-year average withdrawal of 68 Bcf, the U.S. Energy Information Administration reported.

The pull, slightly lower than the 74 Bcf forecast by an S&P Global Platts analyst survey, brought total Lower 48 working gas supply to 3,518 Bcf, or 593 Bcf above the year-ago level and 14 Bcf below the five-year average.

By region:

* In the East, stockpiles were down 24 Bcf on the week at 867 Bcf, 18% higher than the year before.

* In the Midwest, stockpiles dropped 27 Bcf at 1,013 Bcf, 14% more than the year before.

* In the Mountain region, inventories slid 7 Bcf at 193 Bcf, 20% above the year-ago level.

* In the Pacific region, inventories fell 10 Bcf at 276 Bcf, 15% above a year ago.

* In the South Central region, inventories fell 6 Bcf at 1,168 Bcf, 30% higher than a year ago. Of that total, 321 Bcf of gas was in salt cavern facilities and 847 Bcf was in non-salt-cavern facilities. Working gas stocks grew 2% in salt cavern facilities from the previous week and were down 1.3% in non-salt-cavern facilities.

S&P Global Platts and S&P Global Market Intelligence are owned by S&P Global Inc.