Production losses and increased demand impact storage levels

  • U.S. natural gas storage expected to decrease by 196 billion cubic feet
  • Larger-than-normal draw on storage due to production losses from winter storms
  • Expected withdrawal follows a hefty 326-Bcf drawdown the previous week
  • Natural gas prices up 1.9% on colder temperature forecasts
  • Weekly storage report to be released by U.S. Energy Information Administration

Natural gas storage in the U.S. is expected to decrease by 196 billion cubic feet, following a larger-than-normal drawdown due to production losses from winter storms. This comes after a hefty 326-Bcf drawdown the previous week. Natural gas prices have increased by 1.9% on colder temperature forecasts for the second half of February. The U.S. Energy Information Administration is set to release its weekly storage report on Thursday.

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Factuality Level: 8
Justification: The article provides specific information about the expected decrease in natural gas storage and cites a survey of analysts, brokers, and traders. It also mentions the previous week’s drawdown and compares it to the five-year average and year-earlier draw. The article includes the current price of natural gas and mentions the upcoming release of the weekly storage report by the U.S. Energy Information Administration.

Noise Level: 7
Justification: The article provides information on the expected decrease in natural gas storage and the reasons behind it. It includes estimates from a survey and compares the expected withdrawal to historical data. However, it lacks in-depth analysis, scientific rigor, and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Natural gas markets and companies involved in natural gas production and storage

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the expected decrease in natural gas storage due to production losses from previous winter storms. This information is relevant to financial markets and companies involved in natural gas production and storage.

Reported publicly: www.marketwatch.com