Storage injections have continued to outpace the five-year (2009-13) average this summer, with inventories as of September 5 at 2,801 billion cubic feet (Bcf), according to data from the Weekly Natural Gas Storage Report (WNGSR) . The winter of 2013-14 led to a large drawdown in inventories , with stocks ending March 2014 almost 1 trillion cubic feet (Tcf) lower than the five-year average and at their lowest end-March level since 2003. Relatively higher weekly net injections into storage reduced that deficit to 463 Bcf as of September 5. EIA’s latest Short-Term Energy Outlook (STEO) expects that this trend will continue, with forecast inventories of 3,477 Bcf by the end of October, 355 Bcf below the five-year average and the lowest end-October level since 2008. However, the effect of these lower inventories on winter […]