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  • Writer's pictureTony Zelinski

EIA Natural Gas Storage Report 09-07-23



EIA Natural Gas Storage Report 09-07-23

Summary

Working gas in storage was 3,148 Bcf as of Friday, September 1, 2023, according to EIA estimates. This represents a net increase of 33 Bcf from the previous week.



Analyst expected today’s EIA weekly storage report to show an injection at about 41 Bcf.


Stocks were 462 Bcf higher than last year at this time and 222 Bcf above the five-year average of 2,926 Bcf. At 3,148 Bcf, total working gas is within the five-year historical range.


CME Natural Gas Futures 3-15-18

Prompt-month NYMEX natural gas was trading at $2.58/MMbtu in morning trading, down $0.079/MMbtu as of 11:00 a.m. ET.


The EIA reported an injection of 33 Bcf into underground storage for the week ending September 1, 2023, vs. an estimated injection of 41 Bcf.


Inventories are 3,148 Bcf, 462 Bcf or 17.2% more than the same period last year, and 222 Bcf or 7.6% more than the 5-year average.


It’s still officially summer and yesterday proved that with some new record-high temperatures established. A cold front pressing into the East will bring storms across the region today, but still hot ahead of the front. This will force the ridge, and record heat, back into Texas over the next couple of days before the heat wave breaks. A stronger cold front will bring a cooler pattern into the eastern two-thirds of the nation next week.


Natural Gas Futures

Read more: EIA

 

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