US natural gas in storage increased 30 Bcf to 4.047 Tcf in the
week ended November 11, the US Energy Information Administration
reported Thursday, breaking the previous all-time high of 4.017 Tcf
set the prior week.
The net injection was exactly in line with a S&P Global Platts
survey of analysts expecting a 30-Bcf injection.
In the corresponding week last year the EIA reported a 26-Bcf
injection, while the five-year average is a 3-Bcf build. This was
the first build of the 2016 injection season that was larger than
both the corresponding week last year and the five-year average.
As a result, stocks were 51 Bcf, or 1.3%, higher than the year-ago
level of 3.996 Tcf, and 216 Bcf, or 5.6%, more than the five-year
average of 3.831 Tcf.
The NYMEX December natural gas futures contract fell 7 cents
following the announcement to $2.694/MMBtu as of 10:45 am EST (1545
GMT).
The EIA reported a 2-Bcf withdrawal in the East to 944 Bcf, compared
with 933 Bcf a year ago; a 7-Bcf injection in the Midwest to 1.155
Tcf, compared with 1.122 Tcf a year ago; a build of 4 Bcf in the
Mountain region to 257 Bcf, compared with 215 Bcf a year ago; a
1-Bcf addition in the Pacific to 328 Bcf, compared with 381 Bcf a
year ago; and a 20-Bcf build in the South Central region to 1.363
Tcf, compared with 1.345 Tcf a year ago.
Total inventories now are 18 Bcf above the five-year average of 926
Bcf in the East, 62 Bcf more than the five-year average of 1.093 Tcf
in the Midwest, 48 Bcf higher than the five-year average of 209 Bcf
in the Mountain region, 41 Bcf less than the five-year average of
369 Bcf in the Pacific, and 129 Bcf more than the five-year average
of 1.234 Tcf in the South Central region.
--Brandon Evans,
bevans@spglobal.com
--Edited by Jason Lindquist,
jason.lindquist@spglobal.com
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