End-of-season natural gas storage inventories are forecast to be the lowest since 2008
The U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook (STEO) forecasts working natural gas inventories on October 31 will be 3,470 billion cubic feet (Bcf), 365 Bcf (10%) lower than the five-year average and 346 Bcf (9%) lower than last year’s level. This forecast inventory level would be the lowest end-of-October storage level since 2008, when inventories ended the month at 3,412 Bcf. The natural gas storage refill season is traditionally April 1—October 31, when natural gas is typically put into underground storage facilities to prepare for increased winter demand for space heating, particularly in the residential and commercial sectors—although injections into storage often occur in the first few weeks of November.
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