Free Trial

US EIA Gas Storage Build of 3bcf Estimated: BNEF


The US EIA gas storage data due for release at 10:30ET (14:30GMT) is expected to show the first net injection of the year of 3bcf for the week ending Mar. 15 according to BNEF.

  • A Bloomberg survey average suggests a build of 6bcf on the week compared to the seasonal normal draw of about 59.5bcf.
  • The BNEF samples-based model predicts an injection of 8bcf while the weather-based supply and demand model predicts an injection of 11bcf.
  • Total storage was last week reported at 2,325bcf after a smaller than average 9bcf draw on the week. US storage was 629bcf higher than the seasonal average of 1,696bcf and 285bcf higher than the previous 5-year high.
  • Consumption is forecast lower by 2.0bcf/d on the week to 85.2bcf/d driven primarily by a 1.6bcf/d drop power generation demand as well as a small drop in residential/commercial demand.
  • Supply is estimated to have increased by 0.8bcf/d to 86.7bcf/d due to a drop in Mexican and LNG exports and rise in Canadian imports.
  • The early view for the week ending Mar. 22 is for a return to withdrawals of 36bcf.
    • US Natgas APR 24 down 0.9% at 1.68$/mmbtu

To read the full story



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.