Thursday: The steak of weekly builds coming in under the 5-year average will end at 26 weeks after today’s EIA weekly storage report is announced. The market is expecting a build around +50-52 Bcf according to survey estimates, which would be above the 5-year average of +38 Bcf. It was warmer than normal over much of the US except for the Northeast and portions of the West. Next week’s build is also expected to be over the 5-year average due to mild temperatures occurring over much of the US this week. The supply/demand environment remains tighter Year over Year, so the reason the streak is coming to an end can solely be blamed on weather.
