The natural gas inventory report slated for release at 10:30 a.m. ET on May 31 by the U.S. Energy Information Administration is expected to show renewed strength in the storage rebuilding process in the week to May 25.
Market analysts and experts surveyed are calling for a storage injection from 97 Bcf to 105 Bcf, with a consensus pegged at a 100-Bcf build. The latest figure would compare with a 91-Bcf injection reported for the week to May 18, as well as an 80-Bcf injection for the same week in 2017 and the 97-Bcf five-year average build.

The 91-Bcf build reported for the week ended May 18 was slightly better than the anticipated 90-Bcf injection and was above the year-ago and five-year average additions of 74 Bcf and 89 Bcf, respectively.
The build brought total U.S. working gas supply to 1,629 Bcf, or 804 Bcf below the year-ago level and 499 Bcf below the five-year average storage level of 2,128 Bcf.
Degree day data from the National Oceanic and Atmospheric Administration shows for the week to May 26 there were 64% more cooling degree days than last year and 46.4% more than normal.

An injection at consensus would drive the total working gas inventory to 1,729 Bcf, would shrink the year-on-year deficit to 784 Bcf, and would trim the year-on-five-year-average deficit to 496 Bcf.
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