POLL-US natural gas reserves decline by 3 bcf in week ending March 8

March 13 (Reuters)U.S. power companies may have pulled 3 billion cubic feet (bcf) of natural gas from storage last week, significantly less than usual, as warmer-than-normal weather kept heating demand low, according to a Reuters poll on Wednesday. expensive.

This compares to a withdrawal of 65 bcf in the same week a year ago, and the five-year average for this period (2019-2023) was a decline of 87 bcf.

During the week ending March 1, the utility pulled 40 bcf of gas from storage. USOILN=ECI

The forecast for the week ending March 8 is that stockpiles will decline to 2.331 trillion cubic feet (tcf), an increase of about 17.2% from the same week last year and about 37.4% above the five-year average. It is expected.

The U.S. Energy Information Administration (EIA) will release its weekly storage report on Thursday at 10:30 a.m. EDT (2:30 p.m. Japan time).

According to data from financial firm LSEG, there were 91 heating degree days (HDDs) last week, compared with 146 normal HDDs over the 30-year period.

HDD measures the number of degrees that the average daily temperature is below 65 degrees Fahrenheit (18 degrees Celsius) to estimate heating needs for homes and businesses.

Estimates ranged from withdrawals of 16 bcf to injections of 6 bcf, with a median decline of 3 bcf, according to a Reuters survey of 10 analysts.

Initial estimates for the week ending March 15 ranged from 11bcf withdrawals to 9bcf injections, with an average decline of 3bcf.

By comparison, withdrawals in the same week last year were 68 bcf, a decrease of 42 bcf on the five-year average.

Below is a list of voting participants. All numbers are in billions of cubic feet.

organization

(bcf) prediction

DTN

6

schneider electric

Four

Baker & O’Brien

-1

SMC report

-2

Gelber & Associates

-2

energy aspects

-Four

Energy venture analysis

-Five

CH Guernsey

-7

Snapper Creek Energy

-9

LSEG

-16

(Reporting by Daksh Grover in Bengaluru; Editing by Scott DiSavino and David Gregorio)

((Daksh.Grover@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words
March 13 (Reuters) – U.S. power companies may have pulled 3 billion cubic feet (bcf) of natural gas from storage last week, significantly less than usual, as warmer-than-normal weather kept heating demand low, according to a Reuters poll on Wednesday. expensive.
This compares to a withdrawal of 65 bcf in the same week a year ago, and the five-year average for this period (2019-2023) was a decline of 87 bcf.

During the week ending March 1, the utility pulled 40 bcf of gas from storage. USOILN=ECI
The forecast for the week ending March 8 is that stockpiles will decline to 2.331 trillion cubic feet (tcf), an increase of about 17.2% from the same week last year and about 37.4% above the five-year average. It is expected.
The U.S. Energy Information Administration (EIA) will release its weekly storage report on Thursday at 10:30 a.m. EDT (2:30 p.m. Japan time).
According to data from financial firm LSEG, there were 91 heating degree days (HDDs) last week, compared with 146 normal HDDs over the 30-year period.
HDD measures the number of degrees that the average daily temperature is below 65 degrees Fahrenheit (18 degrees Celsius) to estimate heating needs for homes and businesses.

Estimates ranged from withdrawals of 16 bcf to injections of 6 bcf, with a median decline of 3 bcf, according to a Reuters survey of 10 analysts.
Initial estimates for the week ending March 15 ranged from 11bcf withdrawals to 9bcf injections, with an average decline of 3bcf.
By comparison, withdrawals in the same week last year were 68 bcf, a decrease of 42 bcf on the five-year average.
Below is a list of voting participants. All numbers are in billions of cubic feet.
organization
(bcf) prediction
DTN
6
schneider electric
Four
Baker & O’Brien
-1
SMC report
-2
Gelber & Associates
-2
energy aspects
-Four
Energy venture analysis
-Five
CH Guernsey
-7
Snapper Creek Energy
-9
LSEG
-16
(Reporting by Daksh Grover in Bengaluru; Editing by Scott DiSavino and David Gregorio)

((Daksh.Grover@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/poll-us-natgas-stockpiles-seen-down-3-bcf-in-week-ended-march-8 POLL-US natural gas reserves decline by 3 bcf in week ending March 8

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