Thursday, December 29, 2011

EIA: Storage -81 Bcf to 3.548 Tcf

Another week, another weak storage report.  The weekly EIA working gas in storage report showed an 81 Bcf net withdrawal, bringing the natural gas storage level down to 3.548 Tcf.  The withdrawal was 43% below last year (-143 Bcf) and 34% below the five year average (-122 Bcf).  As a result, the current storage level is now 9.1% above last year (3.251 Tcf) and 13.7% above the five year average (3.12 Tcf).  This, my friends, sucks for natural gas.

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