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U.S. natural gas in storage fell by 40 Bcf for the week ending Jan. 3, on the lower side of expectations.
In its weekly report, the U.S. Energy Information Administration calculated the total amount of working natural gas in storage to be 3.373 Tcf, a decline from last week’s total of 3.413 Tcf.
The withdrawal was slightly lower than analysts predicted. Prior to the release, Barron’s reported analysts predicted a 53 Bcf withdrawal.
The small withdrawal did not affect natural gas prices. By 2:30 p.m. EST on Jan. 8, Henry Hub front-month futures prices sat at $3.65/MMBtu, an increase of $0.20 on the day.
The EIA released the data a day earlier than usual because Jan. 9 has been set aside by the federal government as a national day of mourning for President Jimmy Carter.
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