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Weekly US gas storage injection tops analyst forecast at 76 Bcf

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Weekly US gas storage injection tops analyst forecast at 76 Bcf

Natural gas storage operators deposited a net 76 Bcf into Lower 48 inventories during the week ended May 6, below the five-year-average build of 82 Bcf, the U.S. Energy Information Administration reported.

The injection, which topped the 74 Bcf forecast by an S&P Global Platts analyst survey, brought total working gas supply to 1,643 Bcf, or 376 Bcf below the year-ago level and 312 Bcf below the five-year average.

By region:

* In the East, storage levels grew 21 Bcf on the week at 274 Bcf, down 21% from a year earlier.

* In the Midwest, inventories were up 18 Bcf at 342 Bcf, 25% under the year before.

* In the Mountain region, stockpiles were up 4 Bcf at 96 Bcf, 26% under a year earlier.

* In the Pacific region, stockpiles grew 7 Bcf at 183 Bcf, down 21% from a year earlier.

* In the South Central region, stockpiles were up 28 Bcf at 749 Bcf, 12% below the year before. Of that total, 241 Bcf was in salt cavern facilities and 507 Bcf was in non-salt-cavern facilities. Working gas stocks were up 3.4% in salt cavern facilities from the week before and were up 3.7% in non-salt-cavern facilities.

S&P Global Platts is an offering of S&P Global Commodity Insights. S&P Global Commodity Insights is owned by S&P Global Inc.

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