EIA - Natural Gas Storage Report - Oct 7

[dan_s]

Working gas in storage was 3,288 Bcf as of Friday, October 1, 2021, according to EIA estimates.
This represents a net increase of 118 Bcf from the previous week.
Stocks were 532 Bcf less than last year at this time and 176 Bcf below the five-year average of 3,464 Bcf.
At 3,288 Bcf, total working gas is within the five-year historical range.

Over the last 13 weeks (one quarter of a year) the injections to storage have been just 1 Bcf higher than the five-year average.

There are now just six weeks remaining in the refill season. Colder air has now moved into the western third of the U.S. (snow in the Rockies soon) and the cool air will drift eastward. Keep an eye on Chicago. As overnight lows get down into the 50s in Chicago a lot of furnaces are turned on. Denver should see temps in the low 40s this weekend.

The five year average build over the next six weeks is 273 Bcf. The five year average inventory level by mid-November (the official beginning of the heating season) is 3,735 Bcf (447 Bcf above were storage is today). So, we are going to be ~150 Bcf below the 5-year average when the heating season begins and the U.S. uses a lot more gas during the winter than we did five years ago when you add in export demand.