Increased natural gas use this summer to meet air conditioning demand has not impeded injections of gas into storage, putting gas inventories on track to reach their second-highest level on record by the end of October, the US Energy Information Administration said Tuesday in its monthly outlook. Inventories at the end of July were 23% higher than a year ago and 2% above the previous five-year average for that week at 2.912 Tcf, EIA said in its August Short-Term Energy Outlook. Inventories began the gas refill season in April about 173 Bcf below the five-year average, but record domestic gas production has allowed for strong injections that have kept inventories above the five-year average since the end of May, EIA said. Gas inventories are projected to reach 3.867 Tcf by October 31, the end of the summer refill season. That estimate for end-of-season inventories is 69 Bcf above the […]