Thursday, January 27, 2011

EIA: Storage -174 Bcf to 2.542 Tcf

The weekly EIA working gas in storage report showed a 174 Bcf net withdrawal to bring storage levels down to 2.542 Tcf.  The weekly withdrawal was 60% higher than the withdrawal this week last year (-109 Bcf) and 14% higher than the five year average (-152 Bcf). The current storage level is 9 Bcf higher than this week last year and only 29 Bcf higher than the five year average.  That's a big improvement in two weeks.

The average temperature last week was considerably colder than this week last year (-5.4 degrees), which is the first time in four weeks that the current temperatures were colder than last year's bitter digits.  It was, however, slightly warmer (+0.7 degrees) than the normal temperature for this week.

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