Working gas in storage was 3,926 Bcf as of Friday, October 16, 2020, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week.
Stocks were 345 Bcf higher than last year at this time and 327 Bcf above the five-year average of 3,599 Bcf.
At 3,926 Bcf, total working gas is above the five-year historical range.
The build of 49 Bcf compares to the 5-yr average build of 76 Bcf.
Over the last 5 weeks, the builds have been a total of 98 Bcf below the 5-year average.< ~50% of the delta because of hurricanes Laura, Sally and Delta.
Early winter in NW quarter of the U.S., falling U.S. gas production and rising demand for LNG should result in more bullish reports going forward.
EIA - Natural Gas Storage Report - Oct 22
EIA - Natural Gas Storage Report - Oct 22
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group