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US EIA Gas Storage Injection Expected at 84bcf: BNEF

NATGAS

The US EIA is expected to show a natural gas storage injection of 84bcf for the week ending 6 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 84bcf, while the weather-based supply and demand model predicts an injection of 81bcf.
  • Total storage was last week at 3,445bcf, which is 172bcf higher than the seasonal average of 3,273bcf and 354bcf lower than the previous 5-year high of 3,799bcf.
  • Central regions of the US saw oscillating wind generation in the MISO power region causing peaks and lows in output from both natural gas and coal fuels. Overall load is low amid mild temperatures in the shoulder months according to Bloomberg.
  • The early view for the week ending 13 October is an injection of 82Bcf.
    • US Natgas NOV 23 down -1.1% at 3.34$/mmbtu
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