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Free AccessEIA Expected to Show 60bcf Natgas Storage Build: BNEF
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
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.