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US Natgas Storage Likely Rose by 27 Bcf: Platts Survey

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

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