April 1 (Reuters) - U.S. energy firms likely added 34 billion cubic feet of natural gas into storage last week, according to the average estimate in a Reuters poll released on Wednesday.
The estimate compares with an injection of 30 bcf during the same week a year ago and an average decline of four bcf over the past five years (2021-2025) for the week.
In the prior week ended March 20, utilities withdrew 54 bcf of gas from storage. USOILN=ECI
If correct, the forecast for the week ended March 27 would increase stockpiles to 1.863 trillion cubic feet. That would be about 5.3% above the same week a year ago and about 2.9% over the five-year average for the week.
The U.S. Energy Information Administration is scheduled to release its weekly storage report at 10:30 a.m. EDT (1430 GMT) on Thursday.
There were about 76 heating degree days last week, compared with a 30-year normal of 112 for the period, data from financial firm LSEG showed.
HDDs measure the number of degrees a day's average temperature is below 65 degrees Fahrenheit (18 degrees Celsius) to estimate demand to heat homes and businesses.
Reuters polled 12 analysts, whose estimates ranged from injections of seven bcf to 42 bcf, with a median increase of 35 bcf.
Early estimates for the week ending April 3 ranged from injections of 32 bcf to 59 bcf, with an average increase of 41 bcf.
Those figures compare with an injection of 53 bcf during the same week last year and a five-year average increase of 13 bcf.
Following is a list of poll participants. All figures are in billion cubic feet:
Organization | Forecasts in bcf |
C H Guernsey | 7 |
SMC Report | 26 |
Schneider Electric | 27 |
Baker & O'Brien | 28 |
Gelber & Associates | 29 |
DTN | 34 |
LSEG | 35 |
Natural Gas Intelligence | 38 |
Stone X Group Inc | 38 |
Price Futures Group | 40 |
Energy Ventures Analysis | 41 |
Energy Aspects | 42 |