Thursday, September 9, 2010

EIA: Storage +58 Bcf to 3.164 Tcf

The weekly EIA working gas in storage report showed a 58 Bcf increase to 3.164 Tcf.  The increase was in line, although slightly below, the same week last year (+68 Bcf) and the five year average (+61 Bcf).  The current storage level is now 6.4% lower than the level last year and 5.5% higher than the five year average.

1 comment:

Bill Mendenhall said...

The amazing story about today's storage report is that the price of gas has dropped again this morning, even though this is the 12th consecutive week in which the gap between the current amount in storage and the 5-year average has dropped. The supply of gas, relative to demand, is moving very nicely in the right direction, but the market hasn't noticed yet.