EIA Report Prints Bearish vs Market Expectations, As We Predicted

Written by on November 29, 2018 in NatGasWeather - No comments

Thursday, November 29: Today’s EIA weekly storage report printed a bearish miss in expectations with a draw of -49 Bcf, much lighter than national survey averages of -72-77 Bcf. We were again to the correct side of expectations with our -67-68 Bcf estimate, but a little too large on the draw like everyone else. This puts our recent streak of being to the correct side of market expectations 13 of the past 15 weeks. Going into the report, temperatures for the sample period were much colder than normal across the Northeast, while modestly colder elsewhere besides portions of the West and Plains.
 

Thursday: Today’s EIA weekly storage report has a large spread between national surveys, ranging between -72 and -77 Bcf, modestly larger than the 5-year average of -59 Bcf. It was much colder than normal across the Northeast, while modestly colder elsewhere besides portions of the West and N. Plains. Our analysis says to expect a slight bearish miss around -67-68 Bcf, but challenging due to the Thanksgiving Holiday.

 

 

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