Working natural gas inventories currently stand at 1,913 Bcf. This figure is 785 Bcf (29.1%) lower than this time last year and 507 Bcf (20.9%) below the five year average.
The July 2018 NYMEX Futures price began the day at just under $2.96/MMBtu prior to the report’s release, dipped to $2.93/MMBtu after the report, but has since recovered to just over $2.95/MMBtu.
Outlook for the Balance of Storage Season:
The graph below compares historical 12, 24 and 36 month strip prices and storage levels for the past 5 years.
The following table shows the injection numbers we will need to average by week to hit selected historical levels:
The following two graphs show current natural gas in storage compared to each of the last 5 years and weekly storage averages and patterns.
The graph below shows the injections through the current week over the past 5 years.
Finally, the graphics below depicts the 6 to 10 day temperature range outlook from the National Weather Service.
Current Week’s Outlook