EiA - Weekly Natural Gas Storage Report - Oct 8

[dan_s]

Working gas in storage was 3,831 Bcf as of Friday, October 2, 2020, according to EIA estimates. This represents a net increase of 75 Bcf from the previous week.
Stocks were 444 Bcf higher than last year at this time and 394 Bcf above the five-year average of 3,437 Bcf.
At 3,831 Bcf, total working gas is above the five-year historical range.

The 75 BCF build was 8 BCF below the 5-year average for the same week.

If the weekly builds stay below the 5-year average for the next four weeks (my prediction) then we will see the front month NYMEX contract for gas go over $3.00/MMBtu on November 1st.
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AEGIS Energy Alerts - Smallest gas build reported for corresponding week in five years
"EIA reported a build of 75 Bcf for the week ending 10/02/2020. This was larger than the median estimate of 72 Bcf. Today’s stat fell within the expected range, which was 85 Bcf on the more bearish end, and 67 Bcf on the more bullish end. Prices were up in the five minutes following the announcement, to $2.608, from $2.588 just before 9:30am."

MY TAKE: If Hurricane Delta is (FINALLY) the last GOM tropical storm, we should see LNG exports from the U.S. ramp up to over 9 Bcfpd in a few weeks and stay that high through winter.