US Natural Gas Storage Outlook: Tightening Ahead Amid Hot Temperatures

A recent surge in hotter-than-normal temperatures across the continental United States is expected to impact natural gas storage, according to NGI's price and data analysts.

Last week's continental US cooling degree days (CDDs) totaled 71, which was 5 CDDs lower than the previous week but still 31% higher than normal.

NGI expects the latest US Energy Information Administration (EIA) Weekly Natural Gas Storage Report for the week ended Sept. 11 to show an injection of 50 Bcf, up 10 Bcf from the previous week.

This would be 37 Bcf lower than the build from one year ago and 24 Bcf lower than the previous five-year average, pushing the year/year deficit to 116 Bcf while reducing the surplus to the five-year average to 124 Bcf.