Thursday, May 17, 2012

EIA: Storage +61 Bcf to 2.667 Tcf

The EIA working gas in storage report showed a 61 Bcf net increase, bringing the current level of gas in storage to 2.667 Tcf.  The weekly injection was 29% lower than last year (+86 Bcf) and 33% below the five year average (+91 Bcf). The current storage level is 40.9% above last year (1.807 Tcf) and 40.8% above the five year average (1.803 Tcf).  While things have been trending the right way for storage over the past several weeks, there is still a long way to go to get levels back to normal.

Temperatures last week in the Lower 48 averaged 64.1 degrees, 2.6 degrees warmer than last year and 4.4 degrees warmer than normal.

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