Going into September, gas in storage tracked just above the five-year moving average of around 3 trillion cubic feet (Tcf). Weekly injection rate numbers over the summer were typically around analysts’ expectations and a few reports actually were a notch or two below forecasts. Last year, injections always seemed to come on the high side.

This is a refreshing change from 2016 when gas in storage was setting a new high end for the five-year range, nearing 4 Tcf. Wells Fargo Securities projected in an August report that trends indicate the storage level will track close to average by late in the fourth quarter.

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