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Natural Gas Days of Supply

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Last update: October 15, 2019, 16:17 EDT
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Description

Days of Supply (DoS) is a measure of the adequacy of natural gas inventories. Essentially, DoS is a ratio between storage inventories and total demand, measured in the number of days. The chart plots DoS against five-year average, maximum and minimum levels. It also displays our 40-day forecast (dotted line).

Historical data are available from January 1, 2015.

The chart is interactive. You can click on any series in the legend to hide/show the data. You can also click on the chart and drag out a specific area you wish to zoom. Alternatively, use calendar filter to select a specific data range. Also, to print or download the chart, click on the "menu" button in the top right corner of the chart.

Update: every weekday + Sunday afternoon.

Source: U.S. Energy Information Administration, Bluegold Research estimates and calculations

TRADERS' NOTE

DoS indicator shows the number of days it will take to run out of natural gas in storage should dry gas production suddenly come to a standstill. While such a scenario is highly unlikely, the key here is not the number itself, but how it compares with historical norm (5-year average). A peak in the DoS usually occurs at the end of injection season (October), when storage inventories are high and total demand is relatively low because cooling demand is subsiding and heating demand is yet to emerge. A trough in DoS is reached in March, when inventories are low after five months of withdrawal season.

As a rule, the bulls want DoS to drop as low as possible and trend down (relative to historical norm), while the bears want DoS to rise as high as possible and trend up (relative to historical norm).

Related charts: Natural Gas Storage; Days of Supply Deviations.

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