Thursday, October 28, 2010

EIA: Storage +71 Bcf to 3.754 Tcf

The weekly EIA working gas in storage figure showed yet another big jump, rising by 71 Bcf to 3.754 Tcf.  This figure is just one Bcf below last year's record level and 312 Bcf higher than the five year average.  The weekly injection of 71 Bcf was nearly triple last year's injection of 24 Bcf and 58% higher than the five year average injection of 45 Bcf.

As I look at long-term forecasts of warmer than usual  weather for the coming winter I think back wistfully to the blustery days of January when it seemed that everyone in the country was under a three foot blanket of snow, cranking the heat to fight winter's chill.  Ah, those were the days!

Temperatures last week were only slightly warmer than the five year average, but 3.7 degrees warmer than the same week last year, explaining the disparity between the one year and five year injections.

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