Thursday, September 20, 2012

EIA: Storage +67 Bcf to 3.496 Tcf

The EIA working gas in storage report showed a 67 Bcf net injection this week, bringing the total gas in storage to 3.496 Tcf.  The weekly injection was 25% below last year (+89 Bcf) and 8% below the five year average (+73 Bcf).  The current storage level is now 10.1% above last year (3.176 Tcf) and 8.6% above the five year average.

Ah, fall (almost fall, at least):  temperatures last week averaged 69.4 degrees in the Lower 48, 0.9 degrees cooler than last year and 0.3 degrees warmer than average.  Expect a relatively brief period of rapid storage buildup while cooling needs have subsided and before heating kicks in.

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