Thursday, March 1, 2012

EIA: Storage -82 Bcf to 2.513 Tcf

The weekly EIA working gas in storage report was another disappointment this week (albeit not as bad as previous weeks), dropping 82 Bcf to 2.513 Tcf.  The withdrawal was in line with last year (-85 Bcf) - but that's not saying much - and 31% below the five year average (-118 Bcf).  The current storage level is 43% above last year (1.757 Tcf) and 45% above the five year average (1.733 Tcf).

Temperatures last week were relatively warm, 4.4 degrees above the 30 year average and 1.1 degrees above last year, which roughly correlates with the weekly withdrawal comparison above.

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