Thursday, October 29, 2009

Storage Up, But Below Average Increase

The weekly EIA natural gas in storage report came out this morning and it showed a 25 Bcf injection in storage facilities across the country, bringing the total amount of gas in storage to 3.759 Tcf. It's still an all time record, but this week's injection was about half of last year's amount (49 Bcf) and less than the five year trailing average (43 Bcf). As a result, the percentage differential over last year narrowed from 12.6% to 11.0% and for the past five years it narrowed from 13.8% to 12.4%.

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