Natural Gas Storage Report - July 27

[dan_s]

Working gas in storage was 2,990 Bcf as of Friday, July 21, 2017, according to EIA estimates. This represents a net increase of 17 Bcf from the previous week. Stocks were 302 Bcf less than last year at this time and 111 Bcf above the five-year average of 2,879 Bcf. At 2,990 Bcf, total working gas is within the five-year historical range.

The 5-year average increase for the 3rd week of July is 44 BCF.

The first three weeks of July have seen milder than average weather over the eastern half of the U.S. Despite this fact, the increase in natural gas storage as only been 102 BCF, which compares to the 5-year average of 174 BCF. (174 - 102) / 21 days = 3.43 BCF per day.

Over the last 19 week, the delta to the 5-year average has declined by 300 BCF.

AS I HAVE BEEN TELLING YOU FOR MONTHS IN MY WEEKLY PODCASTS > Natural gas storage is now on-track to be below the 5-year average by the end of September and at least 100 BCF below the 5-year average by mid-November when the next heating season begins.

The 5-year average storage level for mid-November is 3,877 BCF. The chance of getting there is "nil".