The 159 Bcf gas storage withdrawal for the week ending Dec. 13, announced Thursday by the Energy Information Administration (EIA), is “right smack in the middle of the range” for the same period over the past nine years, an energy expert said Thursday. However, the large withdrawals in recent weeks indicate that by next summer, supplies will be tight, ensuring that natural gas prices will be higher — already reflected in the futures market.
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Heavy Gas Withdrawal May Lead to Higher Summer Prices
The 159 Bcf gas storage withdrawal for the week ending Dec. 13, announced Thursday by the Energy Information Administration (EIA), is “right smack in the middle of the range” for the same period over the past nine years, an energy expert said Thursday. However, the large withdrawals in recent weeks indicate that by next summer, supplies will be tight, ensuring that natural gas prices will be higher — already reflected in the futures market.
December 20, 2002
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