Thursday, July 21, 2011

EIA: Storage +60 Bcf to 2.671 Tcf

The weekly EIA working gas in storage report showed a 60 Bcf net injection, bringing the total natural gas in storage to 2.761 Tcf.  The weekly injection was sandwiched between last year's (+55 Bcf) and the five year average (+67 Bcf).  The current storage level is 7.4% below last year's level (2.884 Tcf) and 2.2% below the five year average (2.663 Tcf).

Temperatures last week averaged 77.1 degrees, which was 2.9 degrees warmer than normal.  Given all the talk of a heat wave this week, I am interested to see the impact to storage next week.

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