DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,193 Bcf as of Friday, August 28, 2015, according to EIA estimates. This represents a net increase of 94 Bcf from the previous week. Stocks were 495 Bcf higher than last year at this time and 122 Bcf above the 5-year average of 3,071 Bcf
EIA to estimate 83-87 Bcf
Actual 94 Bcf
An injection within that range would be more than the 79-Bcf build reported in the comparable week of 2014 and the 60-Bcf five year-average increase, EIA data showed. Discussing the possible effect of a high injection number Thursday, Santiago Diaz, broker at INTL FC Stone, said “if the large injection trend continues, it will translate towards more downward pressure on prices.” It is not unusual for natural gas storage injections to reach this size, but what is unusual is how early large injections are arriving. “With the third week of September traditionally marking the low point in the season for weather-related demand, this pattern change appears to be running close to schedule”