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US EIA Gas Storage Injection of 85bcf Estimated: BNEF

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The US EIA gas storage data due for release at 10:30ET (15:30BST) is expected to show a net injection of 85bcf for the week ending May 17 according to BNEF.

  • A Bloomberg survey average also suggests a build of 85bcf on the week compared to the seasonal normal injection of about 90bcf.
  • The BNEF samples-based model predicts an injection of 86bcf while the weather-based supply and demand model predicts an injection of 85bcf.
  • Total storage was last week reported at 2,633bcf after an injection of 70bcf on the week. US storage was 620bcf higher than the seasonal average of 2,013bcf and 188bcf higher than the previous five-year high.
  • Total consumption is estimated 2.3bcf/d lower on the week to 74.4bcf/d driven by higher residential/commercial demand as well as a rise in power generation demand.
  • Total supply is showing just slightly down by 0.2bcf/d on the week to 86.9bcf/d with a rise in production but increase in LNG export flows.
  • The early view for the week ending May 24 is for an injection of 90bcf.
    • US Natgas JUN 24 up 1.5% at 2.89$/mmbtu
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The US EIA gas storage data due for release at 10:30ET (15:30BST) is expected to show a net injection of 85bcf for the week ending May 17 according to BNEF.

  • A Bloomberg survey average also suggests a build of 85bcf on the week compared to the seasonal normal injection of about 90bcf.
  • The BNEF samples-based model predicts an injection of 86bcf while the weather-based supply and demand model predicts an injection of 85bcf.
  • Total storage was last week reported at 2,633bcf after an injection of 70bcf on the week. US storage was 620bcf higher than the seasonal average of 2,013bcf and 188bcf higher than the previous five-year high.
  • Total consumption is estimated 2.3bcf/d lower on the week to 74.4bcf/d driven by higher residential/commercial demand as well as a rise in power generation demand.
  • Total supply is showing just slightly down by 0.2bcf/d on the week to 86.9bcf/d with a rise in production but increase in LNG export flows.
  • The early view for the week ending May 24 is for an injection of 90bcf.
    • US Natgas JUN 24 up 1.5% at 2.89$/mmbtu