US natural gas storage stocks rise 15 Bcf to 3.790 Tcf: EIA

New York (Platts)--9 Nov 2017 148 pm EST/1848 GMT

The amount of natural gas in US storage facilities increased 15 Bcf to 3.790 Tcf in the week that ended November 3, the US Energy Information Administration reported Thursday.

The build was higher than what an S&P Global Platts survey of analysts expected, with the consensus among those surveyed calling for a 12-Bcf injection. The expectations ranged from a build of 1 Bcf to an injection of 21 Bcf.

The injection was less than one-third of the size of the 54-Bcf build reported in the corresponding week in 2016 and exactly one-third of the five-year average injection of 45 Bcf, according to EIA data.

As a result, stocks were 219 Bcf, or 5.5%, below the year-ago level of 4.009 Tcf and 71 Bcf, or 1.8%, lower than the five-year average of 3.861 Tcf, the data show.

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The NYMEX November gas futures contract climbed 1 cent to $3.185/MMBtu in the minutes following the 10:30 am EST announcement.

The EIA reported a 1-Bcf withdrawal in the East to trim stocks to 925 Bcf, compared with 945 Bcf a year ago; a 5-Bcf build in the Midwest to boost inventories to 1.112 Tcf, compared with 1.145 Tcf a year ago; a 2-Bcf pull in the Mountain region to cut stocks to 224 Bcf, compared with 252 Bcf a year ago; stocks in the Pacific remained at 317 Bcf, compared with 327 Bcf a year ago; and a 13-Bcf build in the South Central region to lift inventories to 1.212 Tcf, compared with 1.339 Tcf a year ago.

Total inventories are now 1 Bcf below the five-year average of 926 Bcf in the East, 15 Bcf above the five-year average of 1.097 Tcf in the Midwest, 4 Bcf higher than the five-year average of 220 Bcf in the Mountain region, 46 Bcf lower than the five-year average of 363 Bcf in the Pacific, and 42 Bcf below the five-year average of 1.234 Tcf in the South Central region.

--Brandon Evans,

--Edited by Keiron Greenhalgh,

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