Thursday, January 10, 2013

EIA: Storage -201 Bcf to 3.316 Tcf

The EIA natural gas storage report showed a 201 Bcf decrease this week, bringing the total working gas in storage to 3.316 Tcf.  The weekly withdrawal was 123% greater than last year (-90 Bcf) and 52% greater than the five year average (-132 Bcf).  The current storage level is now 2.6% below last year (3.404 Tcf) and 10.7% above the five year average (2.996 Tcf).

Even with the positive storage report this week, the storage level still has a lot of ground to make up relative to the five year average, as shown below.  The next two months are critical.

Temperatures last week averaged 31.3 degrees, 9.1 degrees cooler than last year and 2.4 degrees cooler than average.

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