Atlantic Storage Builds Amid Uncertain Post-Coronavirus Picture

摘要

Natural gas inventories continue to climb on both sides of the Atlantic as forecasters start to tweak models to reassess life after the demand destruction caused by the coronavirus pandemic.The US Energy Information Administration reported a 43 billion cubic foot injection for the week ended Apr.17,bringing working gas in storage to 2.14 trillion cubic feet(61 billion cubic meters).The build was smaller than the 49 Bcf five-year average and last year's 92 Bcf injection.Storage is now 364 Bcf,or 20.5%,above the five-year average and 827 Bcf,or 63%,higher than a year ago.Early models for this week's data see a build in the low 50s Bcf,wnich compares bullishlv with the 74 Bcf five-year average and last year's 114 Bcf build.