Thursday, November 29, 2012

EIA: Storage +4 Bcf to 3.877 Tcf

After two weeks of net storage withdrawals, this week's EIA working gas in storage report showed a 4 Bcf net increase in natural gas storage, bringing the current level to 3.877 Tcf.  The weekly injection was in line with last year (+2 Bcf) but 22 Bcf above the five year average (-18 Bcf).  The current storage level is now 0.7% above last year (3.851 Tcf) and 5.2% above the five year average (3.687 Tcf).

Temperatures last week averaged 46.7 degrees, 3.6 degrees cooler than last year and 0.4 degrees cooler than the five year average.  But, as the map below shows, the averages can be deceiving.  Cooler temperatures were clustered on the coasts, while much of the country saw above normal temperatures.

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