Denver CO — US natural gas in storage increased by 63 Bcf to 2.568 Tcf for the week ended 

August 31, Energy Information Administration data showed Thursday. 

The build was slightly more than an S&P Global Platts' survey of analysts calling for a 60-Bcf 

addition. 

The injection was more than the 60-Bcf build reported during the corresponding week in 2017 

but less than the five-year average addition of 65 Bcf, according to EIA data. 

As a result, stocks were 643 Bcf, or 20%, less than the year-ago level of 3.211 Tcf, and 590 

Bcf, or 19%, less than the five-year average of 3.158 Tcf. 

The injection was less than the 70-Bcf build reported the week prior as population-weighted 

temperatures increased by 2 degrees across the Lower 48 states, adding 9 Bcf of additional 

gas-fired power demand, according to S&P Global Platts Analytics. 

The NYMEX October Henry Hub natural gas futures slid down 1.3 cents to $2.782/MMBtu 

following the 10:30 am EDT storage announcement. The prompt month has fallen by 18 cents over the past two weeks despite the low storage inventory. Even though Platts Analytics 

expects slightly larger builds over the next two weeks, they are still less than the five-year 

average and will further widen the deficit. 

Platts  Analytics  expects  storage  to  peak  at  approximately  3.3  Tcf before the switch to 

withdrawals in early November. If so, it would be the lowest level to start the heating season 

since 2005, when stocks peaked at 3.2 Tcf. A colder-than-normal winter could push up prices 

due to the low inventory despite production gains.