US natural gas stockpiles likely rose by 64 billion cubic feet last week
Sept 30 (Reuters) - US energy firms likely added a below-normal 64 billion cubic feet of natural gas into storage last week, according to the average estimate in a Reuters poll released on Wednesday.
The estimate compares with an injection of 56 bcf during the same week a year ago and an average increase for that week of 80 bcf over the past five years (2021 to 2025).
In the prior week ended September 18, energy firms added 53 bcf of gas into storage. USOILN=ECI
If correct, the forecast for the week ended September 25 would increase stockpiles to 3.415 trillion cubic feet. That would be about 3.9% below the same week a year ago and about 2.4% above the five-year average for the week.
The US Energy Information Administration is scheduled to release its weekly storage report at 10:30 a.m. EDT (1430 GMT) on Thursday.
There were 70 total degree days (TDDs) last week, above the 30-year normal of 62 TDDs for the period, data from financial firm LSEG showed.
Total degree days measure the number of degrees a day's average temperature is above or below 65 degrees Fahrenheit (18 degrees Celsius) to estimate demand to cool or heat homes and businesses.
Reuters polled 11 analysts, whose estimates ranged from injections of 60 bcf to 73 bcf, with a median increase of 64 bcf.
Early estimates for the week ending October 2 showed an average increase of 79 bcf.
That figure compares with an injection of 77 bcf during the same week last year and a five-year average increase of 96 bcf.
Following is a list of poll participants. All figures are in billion cubic feet:
Organization | Forecasts in bcf |
Baker & O'Brien | 60 |
Tradition Energy | 61 |
Energy Aspects | 62 |
Natural Gas Intelligence | 63 |
Gelber & Associates | 64 |
Stone X Group Inc | 64 |
SMC Report | 64 |
Schneider Electric | 64 |
DTN | 65 |
Energy Ventures | 66 |
C H Guernsey | 73 |