US natural gas stockpiles seen up 53 bcf last week
Repeats POLL originally published on Sept 25, no changes
Sept 25 (Reuters) -U.S. utilities likely added a smaller-than-usual 53 billion cubic feet (bcf) of natural gas into storage last week, according to the average estimate in a Reuters poll on Wednesday.
That compared with an injection of 82 bcf during the same week a year ago and a five-year (2019-2023) average increase of 88 bcf for this time of year.
In the prior week ended Sept. 13, utilities added 58 bcf of gas into storage USOILN=ECI.
If correct, the forecast for the week ended Sept. 20 would increase stockpiles to 3.498 trillion cubic feet, about 5% above the same week a year ago and around 7.3% above the five-year average for the week.
The U.S. Energy Information Administration will release its weekly storage report at 10:30 a.m. EDT (1430 GMT) on Thursday.
There were 65 cooling degree days (CDDs) last week, up from the 30-year normal of 50 CDDs for the period, according to data from financial firm LSEG.
CDDs, used to estimate demand to cool homes and businesses, measure the number of degrees a day's average temperature is above 65 degrees Fahrenheit (18.3 degrees Celsius).
Reuters polled 14 analysts, whose estimates ranged from injections of 49 bcf to 57 bcf, with a median increase of 53 bcf.
Early estimates for the week ending Sept. 27 ranged from injections of 54 bcf to 64 bcf, with an average increase of 60 bcf.
That compares with an increase of 87 bcf during the same week last year and a five-year average increase of 98 bcf.
Following is a list of the poll's participants. All figures are in billions of cubic feet:
Organization | Forecasts in (bcf) |
LSEG | 57 |
DTN | 56 |
Price Futures Group | 55 |
C H Guernsey | 54 |
SMC Report | 54 |
Snapper Creek | 53 |
TFS Energy | 53 |
StoneX Group | 53 |
Gelber Associates | 53 |
Baker & O'Brien | 52 |
Energy Ventures Analysis | 52 |
Engie Insight | 52 |
Energy Aspects | 50 |
Ritterbusch Associates | 49 |
Reporting by Anjana Anil in Bengaluru; editing by Scott DiSavino and David Gregorio
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