POLL-US natural gas stockpiles likely fell by 44 billion cubic feet last week

Reuters03-26
POLL-US natural gas stockpiles likely fell by 44 billion cubic feet last week

March 25 (Reuters) - U.S. energy firms likely pulled 44 billion cubic feet of natural gas from storage last week, according to the average estimate in a Reuters poll released on Wednesday.

The estimate compares with an injection of 33 bcf during the same week a year ago and an average decline of 21 bcf over the past five years (2021-2025) for the week.

In the prior week ended March 13, utilities injected 35 bcf of gas from storage. USOILN=ECI

If correct, the forecast for the week ended March 20 would decrease stockpiles to 1.839 trillion cubic feet. That would be about 5.8% above the same week a year ago and about 1.3% over the five-year average for the week.

The U.S. Energy Information Administration is scheduled to release its weekly storage report at 10:30 a.m. EDT (1430 GMT) on Thursday.

There were about 102 heating degree days last week, compared with a 30-year normal of 108 for the period, data from financial firm LSEG showed.

HDDs measure the number of degrees a day's average temperature is below 65 degrees Fahrenheit (18 degrees Celsius) to estimate demand to heat homes and businesses.

Reuters polled 14 analysts, whose estimates ranged from withdrawals of 14 bcf to 55 bcf, with a median decrease of 45 bcf.

Early estimates for the week ending March 27 ranged from withdrawals of 48 bcf to injections of 38 bcf, with an average increase of 18 bcf.

Those figures compare with an injection of 30 bcf during the same week last year and a five-year average decrease of four bcf.

Following is a list of poll participants. All figures are in billion cubic feet:

Organization

Forecasts in bcf

C H Guernsey

-14

SMC Report

-30

LSEG

-39

Baker & O'Brien

-41

Natural Gas Intelligence

-43

Tradition Energy

-44

DTN

-44

Schneider Electric

-46

StoneX Group Inc

-47

Energy Aspects

-47

Price Futures Group

-48

Energy Ventures Analysis

-49

Ritterbusch Associates

-52

Gelber & Associates

-55

(Reporting by Sarah Qureshi in Bengaluru; editing by Scott DiSavino and Rod Nickel)

((SarahS.Qureshi@thomsonreuters.com;))

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