Wednesday, November 25, 2009

Storage: +2 Bcf

We just can't stop adding gas to storage.  Last week, natural gas in storage increased by 2 Bcf to 3.835 Tcf.  While it's considerably lower than injections of the past months, 'tis the season for withdrawals, not more injections.  Last year this week, there was a 55 Bcf withdrawal and the five year average indicates a 21 Bcf withdrawal for this week. 

Hopefully gas traders will have visions of tryptophan dancing in their heads and disregard the still high storage numbers.  Just another wrinkle in a long strange ride for natural gas this year.

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