BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

S&P Global Platts Survey of Analysts Suggests U.S. EIA Data to Show 158-Bcf Withdrawal to Natural Gas Stocks

WASHINGTON, Jan. 23 2019 — The U.S. Energy Information Administration (EIA) on Thursday is expected to report a 158-billion cubic feet (Bcf) withdrawal for the week ended January 18, according to a survey of analysts by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets.

Responses to the survey ranged for a draw of 138 Bcf to 180 Bcf. The EIA plans to release its weekly storage report on Thursday at 10:30 a.m. EST.

A 158-Bcf draw would be less than the 273-Bcf withdrawal in the corresponding week last year as well as the five-year average pull of 185 Bcf. It would also mark the fifth consecutive week the drawdown was less than the five-year average.

A withdrawal within expectations of 158 Bcf would decrease stocks to 2.375 trillion cubic feet (Tcf). The deficit versus the five-year average would fall to 300 Bcf while the deficit versus last year would shift to a surplus of 38 Bcf. In early December, those deficits stood at 725 Bcf and 704 Bcf, respectively. High production combined with lower-than-normal heating demand led to a series of small draws.

The expected draw would nearly double the 81 Bcf draw reported last week. It shrunk inventories to 2.533 Tcf, which was 3% less than the year-ago inventory of 2.610 Tcf, and 11.4% less than the five-year average of 2.860 Tcf.

"Since the middle of last December, US-level temperatures have averaged between 3 and 5 degrees above normal, reducing the deficit to the five-year average from around 20 percent to now almost 11 percent," said Kent Berthoud, a storage analyst with S&P Global Platts. "That warm spell came to an abrupt end last week, as a cold front in the Northeast brought US temperatures 2 degrees under the 10-year normal."

Forecast for colder weather are expected to create larger draws ahead. A 186-Bcf draw is projected for the week ending January 25, which is 36 Bcf more than the five-year average.

The weekly analyst survey is conducted by S&P Global Platts' editorial team, and is published every Wednesday, one day ahead of the 10:30 a.m. (ET) Thursday release of the weekly natural gas storage report of the U.S. Energy Information Administration. Platts has been conducting this survey since January 2007. The survey includes 15 to 25 analysts, some on a rotational basis.

**In its weekly natural gas report, the EIA divides the U.S. into five storage regions: East, Midwest, South Central, Mountain and Pacific. The full listing of the states that comprise each can be found here.

S&P Global Platts Media Contact update

Americas: Kathleen Tanzy, + 1 917 331 4607, kathleen.tanzy@spglobal.com
EMEA and Asia: Alex Brog, +44 20 7176 7645, alex.brog@spglobal.com and Arnaud Humblot, +44 20 7176 6685, arnaud.humblot@spglobal.com

About S&P Global Platts

At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit https://www.spglobal.com/platts/en



Register Now

Register here to receive S&P Global Platts press releases by Email