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US Natgas Storage Likely Rose by 73 Bcf: WSJ Survey

NATGAS

US natural gas inventories likely posted below average growth in the week to June 7, according to a survey of 10 analysts, brokers, and traders by the WSJ.

  • Gas in underground storage is expected to have risen by 73 bcf to 2,966 bcf in the week to June 7.
  • The below-average injection expectation is likely due to hot weather across the US driving power-sector demand, in addition to rising LNG feedgas flows.
  • Estimates ranged from a net build of 66 bcf to 83 bcf.
  • This would be below the five-year average net increase of 89 bcf for this period and would reduce the surplus from 581 Bcf the week prior.
  • The EIA said in its Short-term Energy Outlook that inventories will end October around 6% above average.
  • The EIA will report the official figures at 10:30 ET June 13.
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