EIA - Natural Gas Storage Report - Aug 25

[dan_s]

Working gas in storage was 2,579 Bcf as of Friday, August 19, 2022, according to EIA estimates.
This represents a net increase of 60 Bcf from the previous week.
Stocks were 268 Bcf less than last year at this time and 353 Bcf below the five-year average of 2,932 Bcf.
At 2,579 Bcf, total working gas is within the five-year historical range.

Over the last 13 weeks (a quarter of a year) the net storage builds have been 16 Bcf below the 5-year average.

There are only 12 weeks remaining in the refill season, so no chance that gas in storage will get back to the 5-year average.

My WAG is that ngas storage will be within the range of 3,200 to 3,300 Bcf in mid-November when the winter heating season begins. That compares to the 5-year average of 3,735 Bcf when draws begin.

After Labor Day, the Wall Street Gang will begin to focus on the shortage of space heating fuel in the U.S.