US natural gas in storage increased 36 Bcf to 2.569 Tcf for the week ended July 19, the US Energy Information Administration reported Thursday.
The injection was slightly more than an S&P Global Platts' survey of analysts calling for a 33-Bcf injection. The survey responses ranged from 28 to 42 Bcf.
The build was less than the 27-Bcf build reported during the corresponding week in 2018 and the five-year average injection of 44 Bcf, according to EIA data. It marked the second below-average build of the season.
As a result, stocks were 300 Bcf, or 13.2%, more than 2.269 Tcf a year earlier and 151 Bcf, or 5.6%, less than the five-year average of 2.720 Tcf.
The NYMEX Henry Hub August contract added 1.5 cents to $2.234/MMBtu following the announcement. The remainder of the summer strip, September and October, added 2 cents to average $2.234/MMBtu. At this time last year the prompt month was trading at around $2.80/MMBtu.
The EIA reported a 14-Bcf build in the East to 561 Bcf, compared with 524 Bcf a year earlier; a 23-Bcf injection in the Midwest to 650 Bcf, compared with 522 Bcf a year earlier; a 4-Bcf build in the Mountain region to 151 Bcf, compared with 145 Bcf a year earlier; a 3-Bcf addition in the Pacific to 271 Bcf, compared with 256 Bcf a year earlier; and an 8-Bcf net withdrawal in the South Central region to 921 Bcf, compared to 823 Bcf a year earlier.
Total inventories are now 29 Bcf less than the five-year average of 604 Bcf in the East, 6 Bcf less than the five-year average of 656 Bcf in the Midwest, 21 Bcf less than the five-year average of 172 Bcf in the Mountain region, 23 Bcf less than the five-year average of 294 Bcf in the Pacific and 73 Bcf less than the five-year average of 994 Bcf in the South Central region.
Platts Analytics supply and demand model projects a build of 53 Bcf for the week in progress, which is 16 Bcf above the five-year average.
