Again To the Correct Side of the EIA Weekly Report Forecast (Streak Runs to 10 of 11 Past Weeks)

Written by on November 8, 2018 in NatGasWeather - No comments

November 8th: Our estimate for this week’s EIA weekly storage report was +62 Bcf, solidly higher than national survey averages of +56-58 Bcf. With it printing +65 Bcf, this puts us to the correct side 11 of the past 12 weeks, with 9 of the 12 weeks error being less than or equal to 3 Bcf.  Clearly, our accuracy is not luck.

Thursday: Today’s EIA weekly storage report is expected to show a build of +56-58 Bcf by most national survey averages, larger than the 5-year average of +48 Bcf. It was warmer than normal over most of the country besides just slightly cool across portions of the eastern third. Our algorithm sees it a touch to the bearish side at around +62 Bcf.

 

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