Platts data will show an injection to natural gas stock

Source:Platts

Platts Survey of analysts suggests U.S. EIA data will show an Injection to natural gas stocks of 67 to 71 billion cubic feet.

The U.S. Energy Information Administration (EIA) on Thursday is expected to report a natural gas storage injection between 67 and 71 billion cubic feet (Bcf) for the week ended July 17, according to a Platts survey of analysts.

 An injection within expectations would be less than the 92-Bcf injection reported at this time last year but more than the 53-Bcf five-year average, according to EIA data.

 The wider range of analysts’ expectations for this Thursday's report spanned an injection of 62 Bcf to 87 Bcf.

 Last week, the EIA reported a 99-Bcf injection that increased inventories to 2.767 trillion cubic feet (Tcf), which was 653 Bcf, or 30.9%, more than the year-ago inventory of 2.114 Tcf, and 73 Bcf, or 2.7%, more than the five-year average of 2.694 Tcf.

 "Demand increased more than 4.0 Bcf per day (/d) compared to the previous week, pulling injection activity lower in all three regions," according to a report by Bentek Energy*, an analytics and forecasting unit of Platts. "The Producing Region** saw the largest drop in injection activity and reported a few select days during the week of net withdrawals within Bentek’s sample; however, the region is still expected to report a net-injection on the week."

 The West Region's injection is expected to be less than 10 Bcf, and the East Region's injection is likely to exceed 50 Bcf, Bentek said.

 For more information on natural gas, visit the Platts website www.platts.com. 

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