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Storage build rate expected to improve, but still lags behind historical gains

Theweekly natural gas inventory report to be released by the U.S. EnergyInformation Administration at 10:30 a.m. ET on Thursday, Oct. 6, is expected toshow natural gas inventories building at a higher rate, while still trailinghistorical average injections.

Analystsand traders surveyed ahead of the release of the upcoming EIA storage reportthat will cover the week to Sept. 30 anticipate a 62-Bcf to 80-Bcf injection,with the consensus expectation being a storage build of 70 Bcf, above the previousweek's injection of 49 Bcf but well below the five-year average injection of 95Bcf and the 96-Bcf injection reported for the same week in 2015.

Coolingdegree day data from the National Oceanic and Atmospheric Administration forthe review week to Oct. 1 reflect weather supportive of demand, outlining 10.5%fewer cooling degree days compared to the same week last year but 41.7% morethan normal for the week, while the data showed 5.9% more heating degree days comparedto the same week last year.

Inthe previous week's data, the reported net 49-Bcf injection into natural gas inventories in theLower 48 during the week ended Sept. 23 was above the market consensus ahead ofthe report's release that called for a 54-Bcf build to stocks, but was belowthe 99-Bcf injection reported for the same week in 2015 and the five-yearaverage injection of 97 Bcf.

Thebuild brought the total U.S. working gas supply to 3,600 Bcf, some 90 Bcf abovethe year-ago level and 220 Bcf above the five-year average storage level of3,380 Bcf.

Theinjection anticipated in this week's data would result in a total working gassupply of 3,670 Bcf. The year-on-five-year-average surplus would shrink to 195Bcf, while the surplus to the year-ago level would fall to 64 Bcf.

Market prices and includedindustry data are current as of the time of publication and are subject tochange. For more detailed market data, including our power,naturalgas and coalindex prices, as well as forwardsand futures,visit our Commodities Pages. To view detailed EIA Weekly Natural Gas Storagedata, go to our Natural GasStorage Page.