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US EIA Gas Storage Injection Expected at 80bcf: BNEF

NATGAS

The US EIA is expected to show a natural gas storage injection of 80bcf for the week ending 13 Oct according to BNEF.

  • The latest EIA weekly gas inventories will be released at 10:30ET (15:30BST).
  • The samples-based model predicts an injection of 81bcf, while the weather-based supply and demand model predicts an injection of 78bcf.
  • Residential and commercial demand saw a considerable increase of 6.7bcf/d last week driven by colder temperatures. Overall gas demand rose by 1.7bcf/d but limited by a 5.0bcf/d drop in power sector gas consumption.
  • US gas production (excluding Alaska) rose by 0.5bcf/d while imports from Canada saw a 0.2bcf/d jump.
  • Total storage was last week at 3,529bcf, which is 163bcf higher than the seasonal average of 3,366bcf and 328bcf lower than the previous 5-year high of 3,857bcf.
  • The early view for the week ending 20 October is an injection of 76Bcf.
    • US Natgas NOV 23 down -0.5% at 3.04$/mmbtu
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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