Working gas in storage was 2,795 Bcf as of Friday, May 24, 2024, according to EIA estimates. This represents a net increase of 84 Bcf from the previous week. Stocks were 380 Bcf higher than last year at this time and 586 Bcf above the five-year average of 2,209 Bcf. At 2,795 Bcf, total working gas is above the five-year historical range.
SHORT-TERM WEATHER
MID-TERM WEATHER
At present, an El Niño Advisory remains in effect but atmospheric and oceanic patterns associated with El Niño are decreasing. El Niño Southern Oscillation (ENSO) neutral conditions are expected for the April-May-June (AMJ) season as a whole, and there are approximately even chances of ENSO neutral or La Niña conditions by the June-July-August (JJA) season. A La Niña climate state is more likely to develop by July-August-September (JAS) with a probability of almost 70 percent, and would be expected to continue through winter, once in place.
The JJA 2024 temperature outlook favors below-normal temperatures for the southwestern coast of Mainland Alaska, while above-normal temperatures are favored for central and eastern Alaska. Above-normal temperatures are likely for the western Contiguous U.S. (CONUS) and across the Southern Plains into the western Gulf Coast region. Above-normal temperatures are also favored for the eastern CONUS with probabilities for above-normal temperatures exceeding 50 percent for the Northeast. Equal Chances (EC) of below, near, and above-normal seasonal mean temperatures are indicated for parts of the northern central CONUS.
The JJA 2024 precipitation outlook slightly favors above-normal precipitation across most of Alaska. The outlook favors below-normal precipitation across most of the West from the Pacific Coast across the Rocky Mountains, while EC is predicted for the climatologically drier region over California, Nevada, and Arizona. Above-normal precipitation is favored for a large area of the eastern CONUS stretching from the Gulf Coast northeastward across the Lower Mississippi Valley and the Southeast, into the Ohio Valley, Mid-Atlantic, and southern New England. For the remaining areas of the central CONUS, where possible seasonal total precipitation amounts are predicted to be similar to climatological probabilities, EC is forecast.
Market Price Data Feed
Working gas in storage was 2,795 Bcf as of Friday, May 24, 2024, according to EIA estimates. This represents a net increase of 84 Bcf from the previous week. Stocks were 380 Bcf higher than last year at this time and 586 Bcf above the five-year average of 2,209 Bcf. At 2,795 Bcf, total working gas is above the five-year historical range.
At present, an El Niño Advisory remains in effect but atmospheric and oceanic patterns associated with El Niño are decreasing. El Niño Southern Oscillation (ENSO) neutral conditions are expected for the April-May-June (AMJ) season as a whole, and there are approximately even chances of ENSO neutral or La Niña conditions by the June-July-August (JJA) season. A La Niña climate state is more likely to develop by July-August-September (JAS) with a probability of almost 70 percent, and would be expected to continue through winter, once in place.
The JJA 2024 temperature outlook favors below-normal temperatures for the southwestern coast of Mainland Alaska, while above-normal temperatures are favored for central and eastern Alaska. Above-normal temperatures are likely for the western Contiguous U.S. (CONUS) and across the Southern Plains into the western Gulf Coast region. Above-normal temperatures are also favored for the eastern CONUS with probabilities for above-normal temperatures exceeding 50 percent for the Northeast. Equal Chances (EC) of below, near, and above-normal seasonal mean temperatures are indicated for parts of the northern central CONUS.
The JJA 2024 precipitation outlook slightly favors above-normal precipitation across most of Alaska. The outlook favors below-normal precipitation across most of the West from the Pacific Coast across the Rocky Mountains, while EC is predicted for the climatologically drier region over California, Nevada, and Arizona. Above-normal precipitation is favored for a large area of the eastern CONUS stretching from the Gulf Coast northeastward across the Lower Mississippi Valley and the Southeast, into the Ohio Valley, Mid-Atlantic, and southern New England. For the remaining areas of the central CONUS, where possible seasonal total precipitation amounts are predicted to be similar to climatological probabilities, EC is forecast.