Underground storage levels are projected to have fallen to 2,062 Bcf for the week ended Feb. 13. A survey of 11 analysts and traders yielded estimates ranging from a conservative 100 Bcf pull to a more aggressive 239 Bcf reduction. If the average holds, the withdrawal will align almost perfectly with the seasonal norm, reflecting a steady balance between supply and weather-driven consumption.

Market Expectations and Historical Context

The anticipated decline mirrors the five-year average withdrawal of 151 Bcf for this specific reporting period. Despite this seasonal consistency, the broader supply picture remains tight. A withdrawal of this magnitude would leave total inventories 131 Bcf below the five-year average, suggesting a lingering deficit as the winter heating season progresses.

Market participants are now looking to official government data for confirmation of these trends. The U.S. Energy Information Administration is scheduled to release its formal weekly inventory report on Thursday at 10:30 a.m. EST.