April 8 (Reuters) - U.S. energy firms likely added 46 billion cubic feet of natural gas into storage last week as warmer-than-normal weather kept heating demand low, according to the average estimate in a Reuters poll released on Wednesday.
The estimate compares with an injection of 53 bcf during the same week a year ago and an average increase of 13 bcf over the past five years (2021-2025) for the week.
In the prior week ended March 27, utilities added 36 bcf of gas into storage. USOILN=ECI
If correct, the forecast for the week ended April 3 would increase stockpiles to 1.911 trillion cubic feet. That would be about 4.9% above the same week a year ago and about 4.8% 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 62 heating degree days last week, compared with a 30-year normal of 101 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 11 analysts, whose estimates ranged from injections of 41 bcf to 55 bcf, with a median increase of 47 bcf.
Early estimates for the week ending April 10 ranged from injections of 39 bcf to 69 bcf, with an average increase of 50 bcf.
Those figures compare with an injection of 22 bcf during the same week last year and a five-year average increase of 38 bcf.
Following is a list of poll participants. All figures are in billion cubic feet:
Organization | Forecasts in bcf |
C H Guernsey | 50 |
Schneider Electric | 55 |
Baker & O'Brien | 41 |
Gelber & Associates | 42 |
DTN | 54 |
LSEG | 47 |
Natural Gas Intelligence | 43 |
StoneX Group Inc | 43 |
Energy Ventures Analysis | 48 |
Energy Aspects | 44 |
Ritterbusch & Associates | 47 |