Thursday, August 5, 2010

EIA: Storage +29 Bcf to 2.948 Tcf

The weekly EIA storage report showed a second straight week of a 29 Bcf net injection into storage, bringing the total to 2.948 Tcf.  This net injection is considerably lower than last year's (+67 Bcf) and the five year average (+47).  The current storage levels are now 4.3% (-132 Bcf) below last year's (record high) levels and 8.1% (+221 Bcf) above the five year average.  The disparity between current levels and the five year average continues to narrow.  It's nice to see the red line come off the ceiling in the chart below.

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