The weeklynatural gas inventory report to be released by the U.S. Energy Information Administrationat 10:30 a.m. ET on Thursday, April 7, is expected to show an injection into naturalgas inventories in the week to April 1.
The surveyof analysts and traders leading up to the EIA's final report for the titular withdrawalseason outlines a net change for the review week ranged from a 1-Bcf injection toas much as a 15-Bcf build, with a consensus formed at an 8-Bcf injection into storagethat would compare against a five-year average withdrawal of 19 Bcf and the 6-Bcfinjection reported for the same week in 2015.
The buildwould reflect a week that saw 14.8% fewer heating degree days compared to the sameweek in 2015 and 18.3% fewer than normal, according to National Oceanic and AtmosphericAdministration degree day data for the week to April 2.
In theprevious data, the EIAreported a net 25-Bcf withdrawal from natural gas inventories in the Lower 48 duringthe week ended March 25 that was slightly above consensus expectations and abovehistorical averages.
The storagewithdrawal compared against the five-year average withdrawal of 22 Bcf and the year-agopull of 10 Bcf, brought total U.S. working gas supply to 2,468 Bcf, or 1,002 Bcfabove the year-ago level and 843 Bcf above the five-year average storage level of1,625 Bcf.
The injectionanticipated in this week's data would result in a total working gas supply of 2,476Bcf, slightly extending the year-on-year surplus to 1,004 Bcf and widening the year-on-five-yearaverage surplus to 870 Bcf.
At 2,476Bcf the total working gas supply would exceed the previous end-of-season recordhigh of 2,473 Bcf in storage on March 31, 2012.
Market prices and included industrydata are current as of the time of publication and are subject to change. For moredetailed 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 Storage data,go to our NaturalGas Storage Page.