The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 86 billion cubic feet for the week ended Sept. 14.
Analysts polled by S&P Global Platts had forecast a climb of 83 billion cubic feet, while the average over the last five years for the same week was a rise of 76 billion.
Total stocks now stand at 2.722 trillion cubic feet, down 672 billion cubic feet from a year ago, and 586 billion below the five-year average, the government said.
October natural gas NGV18, +0.24% traded at $2.913 per million British thermal units, up half a cent from Wednesday’s settlement.
It was trading at $2.90 before the supply data.
|Working Gas in Underground Storage, Lower 48||Year Ago (09/14/17)||5-Year (2013-17) Average|
|Sep-14-2018||Sep-07-2018||net change (Bcf)||implied flow (Bcf)||stocks (Bcf)||% change||stocks (Bcf)||% change|
Storage Report Summary:
Working gas in storage was 2,722 Bcf as of Friday, September 14, 2018, according to EIA estimates.
This represents a net increase of 86 Bcf from the previous week. Stocks were 672 Bcf less than last year at this time and 586 Bcf below the five-year average of 3,308 Bcf.
At 2,722 Bcf, total working gas is below the five-year historical range.