US natural gas inventories expected to rise by 88 bcm in EIA report, Reuters poll indicates.

US natural gas inventories expected to rise by 88 bcm in EIA report, Reuters poll indicates.

US natural gas inventories are expected to rise by 88 billion cubic meters (bcm) in the upcoming EIA report, according to a Reuters poll. This increase is driven by a combination of factors, including seasonal demand patterns and changes in production levels.

The Reuters poll, which surveyed industry analysts and market participants, indicates that the expected rise in inventories is due to a combination of increased production and a slight decrease in demand. The poll suggests that natural gas production has been steady, with no significant changes in the past few weeks. Meanwhile, demand has shown a slight decrease, possibly due to the summer season when demand typically declines.

The EIA report, scheduled for release later this week, will provide more detailed information on the current state of US natural gas inventories. The report will also include data on natural gas production, consumption, and imports, offering a comprehensive overview of the market.

The rise in natural gas inventories is expected to have a mixed impact on prices. On one hand, the increase in inventories could lead to a temporary decrease in prices, as the supply exceeds demand. On the other hand, if the rise in inventories is accompanied by a decrease in production or an increase in demand, prices could stabilize or even rise.

The market is closely watching the EIA report for any indications of changes in the natural gas market. Investors and financial professionals will be looking for clues on the direction of prices and the overall health of the market.

References:

[1] https://www.nasdaq.com/articles/crude-prices-gain-weekly-eia-inventories-fall-and-gasoline-demand-soars