Thursday, April 28, 2011

EIA: Storage +31 Bcf to 1.685 Tcf

The weekly EIA working gas in storage report showed a 31 Bcf net injection, bringing the level of gas in storage up to 1.685 Tcf.  The weekly injection was relatively low, 62% lower than last year's injection (81 Bcf) and 52% lower than the five year average (65 Bcf).  The current storage level is 215 Bcf below last year's (1.9 Tcf) and 11 Bcf below the five year average (1.696 Tcf).

Temperatures for the week averaged 53.9 degrees, which is right on the average for this time of year but 1.7 degrees cooler than the same week last year.  Because temperatures generally were cooler in the regions with the highest concentration of gas usage, the impact of the cooler weather was magnified. 

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