EIA - Natural Gas Storage Report - Sept 8

[dan_s]

Working gas in storage was 2,694 Bcf as of Friday, September 2, 2022, according to EIA estimates.
This represents a net increase of 54 Bcf from the previous week. < Lower than my guess of 65 BCF, which is the 5-year ave increase for this week.
Stocks were 222 Bcf less than last year at this time and 349 Bcf below the five-year average of 3,043 Bcf.
At 2,694 Bcf, total working gas is within the five-year historical range.

The deficit to the 5-year average increases by 11 Bcf and only 10 weeks remain in the refill season.

My WAG is that storage will be 330 to 370 Bcf below the 5-year average in mid-November.

A better indication of how tight the U.S. natural gas market really is: Over the last 13-weeks, the total storage builds have been 9 Bcf below the 5-year average, so the chance that the injections will be significantly over the 5-year average during the next ten weeks is ZERO.