By Anthony Harrup
U.S. natural gas inventories likely increased by more than usual last week, shifting storage to a surplus above the five-year average for the first time since mid-January, according to a survey by The Wall Street Journal.
Gas in underground storage is expected to have increased by 106 billion cubic feet to 2,040 Bcf in the week ended April 25, according to the average estimate of 10 analysts, brokers and traders. Estimates range from an injection of 92 Bcf to an injection of 114 Bcf.
The expected increase compares with an average 58 Bcf injection for the week in the 2020-2024 period, and would leave inventories 4 Bcf above the average, compared with a deficit of 44 Bcf the previous week.
Colder-than-normal weather in January and February left storage almost 12% below the five-year average, but the injection season got off to an early start due to mild conditions in March that lowered heating demand.
The U.S. Energy Information Administration is scheduled to report weekly natural gas storage on Thursday at 10:30 a.m. EDT.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
April 30, 2025 13:30 ET (17:30 GMT)
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