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US Natgas Storage Likely Rose by 30 Bcf: WSJ Survey

NATGAS

US natural gas inventories likely posted below average growth of 30 bcf in the week to June 28, according to a survey of nine analysts, brokers, and traders by the WSJ.

  • This would take total storage levels to 3,127 bcf in the week to June 28.
  • WSJ survey estimates ranged from a net build of 22 bcf to 35 bcf.
  • A Reuters survey earlier in the week saw estimates range from a rise of 22 bcf to 35 bcf.
  • The five-year average change for this period is a net injection of 69 bcf.
  • If correct, it would reduce the surplus over the five-year average to 528 Bcf.
  • The below-average build is attributed to a double-digit increase in power-sector demand.
  • The EIA will report the official figures at 12:00 ET July 3.

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