Thursday, June 6, 2013

EIA: Storage +111 Bcf to 2.252 Tcf

The EIA natural gas in storage report showed a 111 Bcf net increase in storage, bringing the total working gas in storage to 2.252 Tcf.  The weekly injection was 76% greater than last year (+63 Bcf) and 21% larger than the five year average (+92 Bcf).  The current storage level is now 21.5% below last year (2.868 Tcf) and 3.0% below the five year average (2.321 Tcf).

The deviation between current storage levels and the five year average has been narrowing over the past five weeks as current injections continue to equal or surpass average injections, as shown below.

Temperatures last week averaged 64.6 degrees, which was 6.1 degrees cooler than last year and 1.1 degrees cooler than average.

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