Thursday, January 17, 2013

EIA: Storage -148 Bcf to 3.168 Tcf

The EIA reported that gas in storage was down 148 Bcf this week, bringing the level of working gas in storage down to 3.168 Tcf. The weekly withdrawal was 66% larger than last year (-89 Bcf) and in line with the five year average (-144 Bcf).  The current storage level is now 4.4% below last year (3.315 Tcf) - hardly a cause for celebration - and 11.1% above the five year average (2.852 Tcf).

Temperatures last week averaged 37.1 degrees, which was 4.4 degrees cooler than last year and 4.0 degrees warmer than average.

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