Ahead of the Bell: Draw in gas reserves expected

AP News
Posted: Dec 10, 2009 6:48 AM

The Energy Department on Thursday is expected to report a draw of 44 billion to 48 billion cubic feet of natural gas storage inventories for the week ended Dec. 4, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

The Energy Information Administration _ the statistical agency of the Department of Energy _ releases its weekly report at 10:30 a.m. EST.

A reading above or below estimates can influence market trading.

Last Thursday, the EIA said for the week ended Nov. 27 natural gas inventories held in underground storage in the lower 48 states grew by 2 billion cubic feet to about 3.84 trillion cubic feet. Analysts had expected no change in natural gas storage inventories, or possibly a draw as high as 4 billion cubic feet.