Working gas in storage was 3,963 Bcf as of Friday, October 28, 2016, according to EIA estimates. This represents a net increase of 54 Bcf from the previous week. Stocks were 48 Bcf higher than last year at this time and 173 Bcf above the five-year average of 3,790 Bcf. At 3,963 Bcf, total working gas is above the five-year historical range.

Estimated 57 Bcf
Vs
Actual 54 Bcf

US gas storage levels look all but guaranteed to set a record high in the coming weeks as Henry Hub prompt-month futures and spot prices plummeted over the past week while the market awaits winter demand. The US Energy Information Administration will estimate a 57-Bcf injection to natural gas in underground storage for the reporting week that ended October 28, according to a consensus of analysts surveyed by Platts. Analysts’ estimates in the survey ranged for an injection of 53 Bcf to 60 Bcf. The EIA plans to release its weekly storage report at 10:30 am EDT Thursday. A 57-Bcf build would be close to the 58-Bcf build reported at this time in 2015 and less than the five-year average injection, which is 63 Bcf, according to EIA data. It would be the 26th consecutive weekly build registering below the five-year average. An injection within analysts’ expectations of 57 Bcf would grow stocks to 3.966 Tcf, only 43 Bcf less than the all-time storage peak of 4.009 Tcf set late last November

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