EIA - Natural Gas Storage Report - Aug 11

[dan_s]

Working gas in storage was 2,501 Bcf as of Friday, August 5, 2022, according to EIA estimates.
This represents a net increase of 44 Bcf from the previous week.
Stocks were 268 Bcf less than last year at this time and 338 Bcf below the five-year average of 2,839 Bcf. < No change in storage deficit.
At 2,501 Bcf, total working gas is within the five-year historical range.

In the last 13 weeks (Qtr of a year) the total storage build has been 19 Bcf below the 5-year average.

When FreePort LNG comes back online the U.S. natural gas market will be under-supplied heading into the winter heating season with a very low storage level. Bottomline: Natural gas prices should stay high thru winter.

Only 14 weeks remain in the refill season with ZERO chance that storage will get close to the 5-year average before winter heating season begins. Hang on to those gassers (AR, CTRA, EQT, RRC, SBOW).