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US EIA Gas Storage Injection of 94bcf 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 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
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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 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