Thursday, June 10, 2010

Gas in Storage: +99 Bcf to 2.456 Tcf

The weekly EIA working gas in storage report showed a 99 Bcf net injection in storage this past week.  The figure is in line with last year's number (+109 Bcf) and the five year average (+95 Bcf), but it still leaves the storage level at a record high level for this time of year.  The good news is that the storage level is creeping back towards more normal levels, being only 1.2% higher than last year, but the bad news is that it still has a long way to go, still being 14.4% higher than the five year average, to make the market happy.

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