US storage fields post first net injection of year due to mild weather: analysts

摘要

US storage fields posted the first net injection of the year in the week ended March 27, according to a survey of analysts, which is one week earlier than normal, while the Henry Hub summer and winter strips slipped slightly to $2.70/MMBtu and $2.90/MMBtu, respectively. The US Energy Information Administration is expected to report a 19 Bcf injection for the week ended March 26, according to a survey of analysts by S&P Global Platts. Responses to the survey ranged from an 8 to 30 Bcf injection. The EIA plans to release its weekly storage report on April 1. The forecast increase in storage would be a dramatic change relative to last year and the five-year average, which saw inventories decrease by 20 and 24 Bcf, respectively. When compared with the prior week, milder temperatures weighed on demand and loosened balances.