Thursday, October 18, 2012

EIA: Storage +51 Bcf to 3.776 Tcf

The EIA reported that working gas in storage was up 51 Bcf this week to 3.776 Tcf.  The weekly injection was 52% lower than last year (+106 Bcf) and 28% lower than the five year average (+71 Bcf).  The current storage level now is 5.0% above last year (3.595 Tcf) and 7.1% above the five year average (3.527 Tcf).  Not bad.

Getting closer...

Temperatures last week averaged 55.0 degrees, 7.4 degrees cooler than last year and 4.6 degrees cooler than average.

The cooler temperatures led to higher consumption of gas by residential and commercial customers (see below), which helped keep the storage injection low.

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