North America gas markets weekly update: Futures roller coaster continues

We expect 159 bcf, 203 bcf and 204 bcf of gas to be taken out of storage through February 1. After the sharp drop in prices over the past week withdrawals may finally exceed the normal pace the last two weeks of January. The first two weeks of February can still generate substantial heating demand. Afterwards the chances of a withdrawal exceeding 180 bcf will drop considerably. It would take an extreme weather event in February to get inventories below 1 tcf this year. In 2014 inventories hit a low point of 825 bcf.