By Anthony Harrup
U.S. natural gas inventories likely saw a larger-than-average withdrawal last week on increased demand as frosty weather returned after a brief respite in the first week of the month, according to a survey by The Wall Street Journal.
Natural gas in underground storage is expected to have decreased by 187 billion cubic feet to 2,110 Bcf in the week ended Feb. 14, according to the average forecast of 11 analysts, brokers and traders. Estimates range from a withdrawal of 176 Bcf to a withdrawal of 200 Bcf.
The expected drawdown is larger than the five-year average draw for the week, 145 Bcf, and it would widen the deficit over the 2020-to-2024 average to 109 Bcf from the prior week's deficit of 67 Bcf. It would also leave storage at 377 Bcf below the year-earlier level.
The U.S. Energy Information Administration is scheduled to report weekly storage data on Thursday at 10:30 a.m. EST.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
February 19, 2025 13:03 ET (18:03 GMT)
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