Working natural gas in storage increased to 2,438 Bcf as of Friday, June 14, according to EIA'sWNGSR. The 91 Bcf gain in storage levels was higher than both the 5-year average and year-ago stock changes for the week, which had net injections of 80 Bcf and 63 Bcf, respectively. Despite the large build, current inventories remain 559 Bcf (18.7%) less than last year at this time and 47 Bcf (1.9%) below the 5-year average of 2,485 Bcf.
The net injection was larger than the market expectations, which, on average, were reported to be 90 Bcf. Natural gas near-month Nymex futures prices fell $0.084 per MMBtu to $3.835 around the time of WNGSR's release. In the hour following the release, prices traded higher at $3.903 per MMBtu.
All three storage regions posted increases this week. Inventories in the East, West, and Producing regions increased by 60 Bcf (the 5-year average net injection is 52 Bcf), 11 Bcf (the 5-year average net injection is 13 Bcf), and 20 Bcf (the 5-year average net injection is 15 Bcf), respectively. In the Producing region, working natural gas inventories increased 2 Bcf (0.8%) in salt cavern facilities and increased 19 Bcf (2.9%) in nonsalt cavern facilities.
Warm temperatures during the storage report week supported this week's net injection. Temperatures in the Lower 48 states were 1.6 degrees warmer than the 30-year normal temperature and 0.9 degrees warmer than the same period last year, and averaged 71.0 degrees for the week, compared to 70.1 degrees last year and the 30-year normal of 69.4 degrees.