Ahead of the Bell: Fall in gas reserves expected

AP News
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Posted: Dec 24, 2009 6:42 AM

The Energy Department on Thursday is expected to report a draw of 171 billion to 175 billion cubic feet of natural gas storage inventories for the week ended Dec. 18., 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 Thursday.

A reading above or below estimates can influence market trading.

Last Thursday, the EIA said for the week ended Dec. 11 natural gas inventories held in underground storage in the lower 48 states dropped by 207 billion cubic feet to about 3.57 trillion cubic feet. Analysts had expected a draw of between 176 billion and 180 billion cubic feet.