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NATGAS
US natural gas inventories likely increased by27 bcf in the week to Aug. 2, according to a survey by Platts, below the five-year average for the time of year.
- This would take total storage levels to 3,276 Tcf in the week to Aug. 2
- Survey estimates ranged from 10-35 bcf.
- The five-year average change for this period is a net injection of 38 bcf.
- Under these figures, the storage surplus over the five-year average would fall to 430 Bcf, or 15% above average.
- Warmer weather across several US regions helped boost a near 4 bcf/d gain in natural gas demand during the Week, Platts said. While higher pipeline imports from Canada and an uptick in domestic production lengthened supply, the overall balance tightened by 3 bcf/d.
- The EIA will report the official figures at 10:30 ET Aug. 8.
Source: S&P Global Commodity Insights
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.
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