Thursday, August 15, 2013

EIA: Storage +65 Bcf to 3.006 Tcf

Working gas in storage crossed the 3 Tcf mark this week with a robust 65 Bcf injection, bringing the storage level to 3.006 Tcf.  The weekly injection was more than triple last year's (+20 Bcf) and 55% greater than the five year average (+42 Bcf).  The current storage level is 7.7% below last year (3.258 Tcf) but 1.5% above the five year average (2.963 Tcf).

This week's storage report is the second week since the beginning of April 2013 that the current storage level has been higher than the five year average (admittedly, a low bar given the fact that each successive year for the past three have brought new record high storage amounts), as shown below:

Temperatures in the Lower 48 averaged 74.1 degrees last week, 4.0 degrees cooler than last year and 0.9 degrees cooler than average.

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