U.S. natural gas inventories likely posted a fifth consecutive below-normal increase last week, further trimming the storage surplus over the five-year average while widening the deficit against the year-earlier level, according to a survey by The Wall Street Journal.
Natural gas in underground storage is expected to have risen by 49 billion cubic feet, to 3,303 Bcf, in the week ended Sept. 11, according to the average estimate of 11 analysts, brokers and traders. Estimates range from an injection of 44 Bcf to an injection of 62 Bcf.
The expected storage build is smaller than the average 74 Bcf increase for the week in the 2021-2025 period, and would lower the surplus over the five-year average to 123 Bcf from 148 Bcf the week before. It would leave stocks 117 Bcf below their year-earlier level, compared with a 79 Bcf year-on-year deficit the week before.
The U.S. Energy Information Administration is scheduled to report weekly natural gas inventory data on Thursday at 10:30 a.m. EDT.