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.
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