Thursday, October 21, 2010

EIA: Storage +93 Bcf to 3.683 Tcf

The storage levels keep chugging on!  The EIA reported this morning that the weekly net injection of gas into storage was 93 Bcf, bringing the total working gas in storage to 3.683 Tcf.  This is three times more than last year's injection of 23 Bcf and 72% higher than the five year average for this week of 54 Bcf.  Current storage levels stand at 1.3% below last year's record level and 8.4% above the five year average.

Yikes!  Can someone say Arctic cold front?

Temperatures were the big driver.  Average temperatures last week were 3.6 degrees warmer than normal and 8.6% warmer than last year.  Heating degree days were 41% lower than normal and 63% lower than last year.

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