POLL-US natural gas stockpiles likely rose by 74 billion cubic feet last week

- U.S. energy firms likely added a near-normal 74 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 96 bcf during the same week a year ago and an average increase for that week of 75 bcf over the past five years (2021-2025).

In the prior week ended June 12, energy firms added 73 bcf of gas into storage. USOILN=ECI

If correct, the forecast for the week ended June 19 would increase stockpiles to 2.833 trillion cubic feet. That figure would be about 1.8% below the same week a year ago and about 5.6% above 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 74 total degree days (TDDs) last week, higher than the 30-year normal of 71 TDDs for the period, data from financial firm LSEG showed.

Total degree days measure the number of degrees a day's average temperature is above or below 65 degrees Fahrenheit (18 degrees Celsius) to estimate demand to cool or heat homes and businesses.

Reuters polled 11 analysts, whose estimates ranged from injections of 66 bcf to 83 bcf, with a median increase of 73 bcf.

Early estimates for the week ending June 26 ranged from injections of 44 bcf to 83 bcf, with an average increase of 74 bcf.

Those figures compare with an injection of 61 bcf during the same week last year and a five-year average increase of 64 bcf.

Following is a list of poll participants. All figures are in billion cubic feet:

Organization

Forecasts in bcf

Price Futures Group

66

Natural Gas Intelligence

68

StoneX Group Inc

68

Schneider

71

Energy Ventures Analysis

73

Gelber & Associates

73

C H Guernsey

74

Ritterbusch Associates

75

Baker & O'Brien

79

SMC Report

82

DTN

83