EIA - Natural Gas Storage Report - May 21
Posted: Thu May 21, 2020 11:24 am
Working gas in storage was 2,503 Bcf as of Friday, May 15, 2020, according to EIA estimates. This represents a net increase of 81 Bcf from the previous week.
Stocks were 779 Bcf higher than last year at this time and 407 Bcf above the five-year average of 2,096 Bcf.
At 2,503 Bcf, total working gas is within the five-year historical range.
In June we should see much smaller builds and we may see draws from storage in July & August. Less supply thanks to oil well shut-ins and much fewer new well completions will combine with real summer heat that increases demand for power generation in a few weeks.
Stocks were 779 Bcf higher than last year at this time and 407 Bcf above the five-year average of 2,096 Bcf.
At 2,503 Bcf, total working gas is within the five-year historical range.
In June we should see much smaller builds and we may see draws from storage in July & August. Less supply thanks to oil well shut-ins and much fewer new well completions will combine with real summer heat that increases demand for power generation in a few weeks.