The U.S. Energy Information Administration's natural gas inventory report slated for release at 10:30 a.m. ET on May 17 is expected to outline the season's first triple-digit storage injection for the week to May 11.
Market analysts and experts surveyed are calling for a storage injection from 99 Bcf to 110 Bcf, with consensus estimates pegged at a 104-Bcf build. The latest figure would compare with an 89-Bcf injection reported for the week to May 4, a 64-Bcf injection for the same week in 2017 and the 87-Bcf five-year average build.

The 89-Bcf build reported for the week ended May 4 brought total U.S. working gas supply to 1,432 Bcf, or 863 Bcf below the year-ago level and 520 Bcf below the five-year average storage level of 1,952 Bcf.
Degree day data from the National Oceanic and Atmospheric Administration shows for the week to May 12 there were 42.9% more cooling degree days than in 2017 and 25.0% more than normal.

An injection at consensus would drive the total working gas inventory to 1,536 Bcf, shrink the year-on-year deficit to 823 Bcf and trim the year-on-five-year-average deficit to 503 Bcf.
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