Free Trial

US Natgas Storage Likely Rose by 55 Bcf: WSJ Survey

NATGAS

US natural gas inventories likely increased by 55 bcf in the week to July 5, according to a survey of ten analysts, brokers, and traders by the WSJ, broadly in line with the five-year average for the time of year.

  • This would take total storage levels to 3,189 bcf in the week to July 5.
  • Survey estimates ranged from 49 -64 bcf.
  • A Reuters survey forecast a slightly smaller build of 52 bcf.
  • The five-year average change for this period is a net injection of 57 bcf.
  • Under these figures, the storage surplus over the five-year average would fall to 494 Bcf, or 18% above average.
  • The EIA expects below-average storage builds to continue this summer due to electricity-sector demand and flat production.
  • The EIA predicts that storage will end the injection season at 3,930 bcf, or 6% above the five-year average
  • The EIA will report the official figures at 10:30 ET July 11.
154 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.

US natural gas inventories likely increased by 55 bcf in the week to July 5, according to a survey of ten analysts, brokers, and traders by the WSJ, broadly in line with the five-year average for the time of year.

  • This would take total storage levels to 3,189 bcf in the week to July 5.
  • Survey estimates ranged from 49 -64 bcf.
  • A Reuters survey forecast a slightly smaller build of 52 bcf.
  • The five-year average change for this period is a net injection of 57 bcf.
  • Under these figures, the storage surplus over the five-year average would fall to 494 Bcf, or 18% above average.
  • The EIA expects below-average storage builds to continue this summer due to electricity-sector demand and flat production.
  • The EIA predicts that storage will end the injection season at 3,930 bcf, or 6% above the five-year average
  • The EIA will report the official figures at 10:30 ET July 11.