Analysts and traders expect government data scheduled for release Friday to show a smaller-than-normal drop in natural-gas inventories last week due to unusually warm weather.
Analysts and traders expect government data scheduled for release Friday
to show a smaller-than-normal drop in natural-gas inventories last week due to
unusually warm weather.
The expected decline of 74 billion cubic feet compares with an 87-bcf drop
during the same period last year and a five-year average withdrawal of 140 bcf.
The U.S. Energy Information Administration is expected to report that 74 bcf of
gas was drawn down for the week ended Dec. 21, according to the average
prediction of 12 analysts and traders in a Dow Jones Newswires survey.
The EIA is scheduled to release its storage data Friday at
10:30 a.m. EST.
The survey's median result was for a decline of 72 bcf, with estimates ranging
from a decline of 67 bcf to a decline of 86 bcf.
If the storage estimate is correct, inventories as of Dec. 21 will total 3.650
trillion cubic feet, 2.2% above last year's level and 12.7% above the five-year
average for the same week.
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