Thursday, June 17, 2010

Storage: +87 Bcf to 2.543 Tcf

The weekly EIA working gas in storage report showed an 87 Bcf net injection, or a 3.5% increase, bringing the gas in storage to 2.543 Tcf.  This injection is on par with the five year average (+84 Bcf) and lower than last year's injection (+113 Bcf).  The storage figure now stands at 14.0% above the five year average and only 0.1% higher than the storage amount this time last year.  Since last year's storage levels caused such crisis, I'd hold off on uncorking your good champagne to celebrate the news.

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