On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, January 29, 2021 was 2,689 BCF.  This was a decrease of 192 BCF from the previous week. Inventories are now 41 BCF higher than last year at this time, 198 BCF above the 5-year average.

 

Energy markets, especially natural gas, were up this week.  After initially dipping as weather forecasts warmed for near term period, colder forecasts especially for days around 2/12/2021 eventually drove the market up. The NYMEX natural gas 12-month strip (Mar21-Feb22) ended up 5.6% and the PJM Western Hub 12-month strip was up 2.5%.