US natural gas in storage forecast to increase by 104 Bcf: survey

According to a survey of analysts, US gas in storage is set to add another 100-plus Bcf for the seventh time this year, while only two triple-digit weekly injections have occurred over the prior two years combined.

The US Energy Information Administration is expected to report a 104 Bcf injection for the week ended June 14, according to a survey by S&P Global Platts. Responses to the survey were wide and ranged for an injection of 89 Bcf to 117 Bcf. The EIA plans to release its weekly storage report on Thursday at 10:30 am EDT.

A 104 Bcf injection would be more than the 95 Bcf build in the corresponding week last year, as well as the five-year average injection of 84 Bcf. An injection within expectations would increase stocks to 2.192 Tcf. The deficit versus the five-year average would shrink to 210 Bcf and the surplus to last year would expand to 198 Bcf.