Analysts Expect 70 Billion-Cubic-Foot Rise in U.S. Natural Gas Inventories

Dow Jones10-29 00:41

U.S. natural gas inventories likely saw a slightly smaller-than-usual increase last week, further reducing the surplus over the five-year average as the injection season runs into its final stretch, according to a survey by The Wall Street Journal.

Natural gas in underground storage is seen rising by 70 billion cubic feet to 3,714 Bcf in the week ended Oct. 23, according to the average estimate of 12 analysts, brokers and traders. Forecasts range from a storage increase of 63 Bcf to an increase of 79 Bcf.

The expected injection is smaller than the five-year average build for the week of 77 Bcf, and would reduce the inventory surplus over the 2021-2025 average to 28 Bcf from 35 Bcf the previous week.

The traditional injection season runs from April through October, although storage builds are frequently seen in the first weeks of November.

The U.S. Energy Information Administration is scheduled to release weekly storage data on Thursday at 10:30 a.m. EDT.

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