Analysts See 34 Billion Cubic-Foot Increase in Natural-Gas Inventories - The Wall Street Journal
December Natural-Gas Futures Settle Higher - WSJ
Updated Nov. 15, 2023 3:29 pm ET
1522 EST [Dow Jones]—Natural-gas futures for December delivery recover losses from the previous session and settle up 2.7% at $3.190/mmBtu ahead of Thursday’s storage report. The EIA is due to report two weeks of natural-gas storage data as last week’s report was postponed due to a system upgrade. Stocks likely rose 34Bcf in the week ended Nov. 10, according to a Wall Street Journal survey, after an expected small draw the previous week when there was a cold spell. ( anthony.harrup@wsj.com)
Analysts See 34 Billion Cubic-Foot Increase in Natural-Gas Inventories
1400 ET — Natural-gas inventories likely saw an increase last week as warmer-than-normal weather across the U.S. kept a lid on demand, according to a survey by The Wall Street Journal. The Energy Information Administration is expected to report that gas in storage rose by 34 billion cubic feet in the week ended Nov. 10, according to the average forecast of 11 analysts, brokers and traders. Estimates range from an increase of 48 Bcf to a decline of 20 Bcf. The expected inventory build follows what was likely a small draw on stocks the previous week when some colder weather pushed up heating demand. The EIA didn’t release its natural-gas storage report last week because of a system upgrade, and is expected to include information for the week ended Nov. 3 on Thursday. Natural gas in underground storage in the lower 48 states stood at 3.78 trillion cubic feet as of Oct. 27, which was 5.7% above the five-year average, according to the EIA. Natural-gas futures for December were recently 4% higher at $3.231. ( anthony.harrup@wsj.com)
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