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US Natgas Storage Likely Rose by 7 Bcf: WSJ Survey
US natural gas inventories likely increased by 7 bcf in the week to Aug.9, according to a survey of ten analysts, brokers, and traders by the WSJ, well below the five-year average for the time of year.
- The low build forecast is attributed to warmer weather which has driven up gas demand in the electricity sector.
- This would take total storage levels to 3,277bcf in the week to Aug. 9.
- Survey estimates ranged from a withdrawal of 3 bcf to a build of 23 bcf.
- The five-year average change for this period is a net injection of 43 bcf.
- Under these figures, the storage surplus over the five-year average would fall to 388, compared to 424 the week prior.
- Reuters survey forecasts a larger, but still below-average, build of 19 bcf.
- The EIA will report the official figures at 10:30 ET Aug. 15.
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