US natural gas stockpiles likely rose by 53 billion cubic feet last week
Sept 23 (Reuters) - US energy firms likely added a below-normal 53 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 77 bcf during the same week a year ago and an average increase for that week of 76 bcf over the past five years (2021 to 2025).
In the prior week ended September 11, energy firms added 44 bcf of gas into storage. USOILN=ECI
If correct, the forecast for the week ended September 18 would increase stockpiles to 3.351 trillion cubic feet. That would be about 4.2% below the same week a year ago and about 2.9% 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 79 total degree days (TDDs) last week, above the 30-year normal of 64 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 49 bcf to 58 bcf, with a median increase of 54 bcf.
Early estimates for the week ending September 25 showed an average increase of 65 bcf.
That figure compares with an injection of 56 bcf during the same week last year and a five-year average increase of 80 bcf.
Following is a list of poll participants. All figures are in billion cubic feet:
Organization | Forecasts in bcf |
Tradition Energy | 49 |
DTN | 50 |
Energy Ventures | 50 |
C H Guernsey | 51 |
Schneider Electric | 54 |
SMC Report | 54 |
Energy Aspects | 54 |
Price Futures Group | 55 |
Baker & O'Brien | 56 |
Natural Gas Intelligence | 56 |
Gelber & Associates | 58 |