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EIA Expected to Show 60bcf Natgas Storage Build: BNEF

NATGAS

EIA are expected to show a US natural gas storage injection of 60bcf for the week ending 15 Sep compared to the five-year average of a 84bcf injection for the same week according to BNEF.

  • BNEF’s facility samples-based model predicts an injection of 58Bcf, while the weather-based supply and demand model predicts an injection of 61Bcf.
  • The build is expected to be driven by a drop in total consumption from 80.4bcf/d last week to 79.5bcf/d due to lower gas for power generation.
  • Total storage last week rose by 57bcf to 3,205bcf and 203bcf higher than the seasonal average of 3,002bcf and 371bcf lower than the previous five-year high of 3,576bcf.
  • The early view for the week ending 22 Sep is an injection of 83Bcf.
    • US Natgas OCT 23 up 0.2% at 2.74$/mmbtu
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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