Thursday, December 10, 2009

Storage FINALLY Going Down

The weekly EIA natural gas in storage number showed the storage level decreasing by 64 Bcf to 3.773 Tcf.  While this is slightly less than last year's withdrawal of 66 Bcf and the five year average of 90 Bcf, at least it's heading in the right direction. It's nice to see the red line on the chart below finally going down.

While I'm happy to see things trending in the right direction, I acknowledge that without new sources of demand this will be an annual exercise in frustration.

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