US natural gas stockpiles likely rose by 64 billion cubic feet last week

By Reuters News

- 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

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.