Thursday, July 15, 2010

Storage: +78 Bcf to 2.84 Tcf

For the second straight week, the EIA weekly report of working gas in storage showed a 78 Bcf net injection, this time bringing the total storage amount to $2.84 Tcf. 

This week's figure is lower than the same week last year (+88 Bcf) and the five year average (+89 Bcf).  The current storage levels are 1.1% lower than last year's levels but 10.7% higher than the five year average.  The differential between current levels and the five year average have been narrowing for the past month, but the weekly increment is so slight that I'm sure the market is not impressed.

With the intense heat in the Northeast making the news last week I was expecting a lower injection number, but in looking at the temperature maps, the heat wave didn't seem that statistically severe, no matter how many people claimed to fry eggs on the sidewalks of New York.


Anonymous said...

the heat was eing portayed as severe to appease the global warming wackos

Robert Hutchinson said...

I'll chalk it up to a slow news day. 103 degrees is hot in Phoenix, but I can't imagine it in New York City: