EIA - Natural Gas Storage Report - July 1

[dan_s]

Working gas in storage was 2,558 Bcf as of Friday, June 25, 2021, according to EIA estimates. This represents a net increase of 76 Bcf from the previous week. Stocks were 510 Bcf less than last year at this time and 143 Bcf below the five-year average of 2,701 Bcf.
At 2,558 Bcf, total working gas is within the five-year historical range.

A larger increase than I was expecting.

AEGIS Note:
EIA reported a build of 76 Bcf for the week ending 6/25/2021. This was larger than the median estimate of 68 Bcf. Today's stat fell outside the expected range, which was 75 Bcf on the more bearish end, and 59 Bcf on the more bullish end.

Prices were down in the five minutes following the announcement, to $3.616, from $3.651 just before 9:30am. < At the time of this post (11:34 AM CT) the AUG21 HH NYMEX contract was up $0.019 to $3.669.

Inventories for the US are now at a deficit of 510 Bcf to last year and a deficit of 143 Bcf to the five-year average.