Near Average Weekly Nat Gas Build Expected
A Slow Moving Spring Storm Kept Perfect Nat Gas Build Weather From Occurring Last Week
The weather during last weeks nat gas build included a slow moving spring storm that brought numerous days of showers and storms to the central and eastern US as well as a decent cool blast that pushed deep into the southern US. This led to overall cooler than normal conditions over much of the US. It took much of the cool front to push past the southeastern US which allowed mild temperatures to be observed for much of the week. Other than the southeastern US, only the West coast experienced below normal temperatures. Analyst estimates for the coming week generally range in the +70-75 Bcf build for the Thursday morning EIA storage release which is slightly higher than the 5 year average of +64 Bcf. This would be nearly the same as last week, however, cool temperature anomalies were more widespread and impressive compared to the previous week along with plenty of cloud cover and rainfall. This could all lead to a lower than ex[ected build. The following images highlight the important weather conditions over the past week as well as the temperature anomalies. I included the previous weeks temperature anomaly and you will see it was much colder for the coming draw, yet projections are near the same. That gives us a cool lean to the coming report, although anything is possible during the shoulder season when the numbers some times don’t add up. Next weeks build will be higher as we factor in this the early week warmth, but next week will be factoring another cold trough over the central and eastern US. This will again delay hefty builds and keep supplies from making up rapid ground on the nearly 1.0 Tcf deficit as we approach June.