Thursday, September 23, 2010

EIA: Storage + 73 Bcf to 3.34 Tcf

The weekly EIA working gas in storage report showed a 73 Bcf increase, bringing the total amount of natural gas in storage to 3.34 Tcf.  The weekly injection is on par with (but slightly higher than) last year's figure (+66 Bcf) and the five year average (+70 Bcf).  The current storage level is 5.0% lower than last year's level but 6.2% higher than the five year average.

Temperatures across the country continued to be generally mild - slightly higher than average but a tad bit cooler than this week last year - so cooling load is pretty much out in helping to support gas prices.  Now the gas industry is counting the days until the first big Arctic blasts.

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