MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US EIA Gas Storage Injection of 94bcf Estimated: BNEF

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletUS

The US EIA gas storage data due for release at 10:30ET (15:30BST) is expected to show a net injection of 94bcf for the week ending May 31 according to BNEF.

  • A Bloomberg survey average suggests a build of 92bcf on the week compared to the seasonal normal injection of about 105bcf.
  • The BNEF samples-based model predicts an injection of 95bcf while the weather-based supply and demand model predicts an injection of 94bcf.
  • Total storage was last week reported at 2,795bcf after an injection of 84bcf on the week. US storage was 586bcf higher than the seasonal average of 2,209bcf and 154bcf higher than the previous five-year high.
  • Total consumption is estimated 1.3bcf/d lower on the week to 73.6bcf/d driven by a drop in industrial demand to offset slightly higher power generation demand amid lower wind and hydro generation.
  • Total supply was almost unchanged on the week at 87.1bcf/d with a rise in production offset by a drop on Canadian imports and higher Mexican and LNG export flows.
  • The early view for the week ending June 7 is for an injection of 71bcf.
    • US Natgas JUL 24 up 3.4% at 2.85$/mmbtu
189 words

To read the full story

Close

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.

The US EIA gas storage data due for release at 10:30ET (15:30BST) is expected to show a net injection of 94bcf for the week ending May 31 according to BNEF.

  • A Bloomberg survey average suggests a build of 92bcf on the week compared to the seasonal normal injection of about 105bcf.
  • The BNEF samples-based model predicts an injection of 95bcf while the weather-based supply and demand model predicts an injection of 94bcf.
  • Total storage was last week reported at 2,795bcf after an injection of 84bcf on the week. US storage was 586bcf higher than the seasonal average of 2,209bcf and 154bcf higher than the previous five-year high.
  • Total consumption is estimated 1.3bcf/d lower on the week to 73.6bcf/d driven by a drop in industrial demand to offset slightly higher power generation demand amid lower wind and hydro generation.
  • Total supply was almost unchanged on the week at 87.1bcf/d with a rise in production offset by a drop on Canadian imports and higher Mexican and LNG export flows.
  • The early view for the week ending June 7 is for an injection of 71bcf.
    • US Natgas JUL 24 up 3.4% at 2.85$/mmbtu