EiA - Weekly Natural Gas Storage Report - Aug 15

[dan_s]

Working gas in storage was 2,738 Bcf as of Friday, August 9, 2019, according to EIA estimates.
This represents a net increase of 49 Bcf from the previous week. Stocks were 357 Bcf higher than last year at this time and 111 Bcf below the five-year average of 2,849 Bcf.
At 2,738 Bcf, total working gas is within the five-year historical range.

Slightly bullish just because the delta to the 5-year average did not change since last week's report.

August heat wave should result in a more bullish report next week because the 5-year average build is 50 Bcf the week ending 8/16. A build below the 5-year average would be nice.

Over the last 13 weeks (a quarter), the builds have been 151 Bcf over the 5-year average.

There is still plenty of room in storage. Total U.S. storage capacity is now around 4,300 Bcf, but we never fill it up. We need about 3,800 Bcf in storage to safely make it through a colder than normal winter, which BTW is the current winter forecast for the U.S.