US natural gas stockpiles likely rose by 81 billion cubic feet last week

By Reuters News

- US energy firms likely added an above-normal 81 billion cubic feet of natural gas into storage last week, according to the average estimate in a Reuters poll released on Wednesday.

Some 39 bcf were injected during the same week a year ago and over the past five years, the average increase for that week was 61 bcf (2021 to 2025).

In the prior week ended October 23, energy firms added 80 bcf of gas into storage. USOILN=ECI

If correct, the forecast for the week ended October 30 would increase stockpiles to 3.805 trillion cubic feet. That would be about 2.7% below the same week a year ago and about 1.5% 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 59 total degree days (TDDs) last week, lower than the 30-year normal of 87 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 14 analysts, whose estimates ranged from injections of 75 bcf to 84 bcf, with a median increase of 82 bcf.

Early estimates for the week ending November 6 showed an average increase of 66 bcf.

That figure compares with an injection of 44 bcf during the same week last year and a five-year average increase of 40 bcf.

Following is a list of poll participants. All figures are in billion cubic feet:

Organization

Forecasts in bcf

C H Guernsey

84

Baker & O'Brien

78

DTN

84

Energy Aspects

82

Natural Gas Intelligence

84

Tradition Energy

79

Gelber & Associates

81

Energy Ventures

84

LSEG

81

Price Futures Group

75

Ritterbusch Associates

82

Schneider Electric

79

SMC Report

83

Schork Group

77

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