Thursday, August 8, 2013

EIA: Storage up 96 Bcf on Mild Weather

The EIA reported this week that working gas in storage was up 96 Bcf to 2.941 Tcf.  The injection was 284% greater than last year (+25 Bcf) and 129% above the five year average (+42 Bcf).  With this large injection, the current storage level is now only 9.2% below last year and 0.7% above the five year average.  This week marks the first time the current level has been greater than the five year average since March 2013.

Temperatures in the Lower 48 averaged 72.6 degrees last week, which was 4.9 degrees cooler than last year and 2.9 degrees cooler than average.

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