Thursday, May 24, 2012

EIA: Storage +77 Bcf to 2.744 Tcf

The EIA working gas in storage report showed a 77 Bcf net injection this week, bringing the total gas in storage to 2.744 Tcf.  The weekly injection was 24% less than last year (+101 Bcf) and 21% below the five year average (+97 Bcf). The current storage level is 37.6% higher than last year (1.994 Tcf) and 37.8% above the five year average (1.991 Tcf). Things are moving in the right direction, but they've got a loooooong way to go.

Temperatures in the Lower 48 last week averaged 64.3 degrees, 4.9 degrees warmer than this week last year and 2.6 degrees warmer than normal.

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