EIA Natural Gas Storage Report - June 27

[dan_s]

Working gas in storage was 3,097 Bcf as of Friday, June 21, 2024, according to EIA estimates.
This represents a net increase of 52 Bcf from the previous week. < 5 year average for this week is a build of 76 Bcf
Stocks were 314 Bcf higher than last year at this time and 528 Bcf above the five-year average of 2,569 Bcf.
At 3,097 Bcf, total working gas is above the five-year historical range. < Total U.S. ngas storage capacity is ~4,200 Bcf

Making progress rebalancing the U.S. natural gas market. < We've now had 9 weeks in a row where the storage build has been lower than the 5-year average. That trend is expected to continue through July.

Remember, that demand for U.S. natural gas is MUCH HIGHER than it was 5 years ago, therefore a higher storage level heading into the winter heating season is necessary to get through a cold winter. Three more LNG export facilities should be online by December.