Thursday, November 21, 2013

Gas in Storage Peaks This Week

The EIA reported that working gas in storage was down 45 Bcf to 3.789 Tcf.  This is the first withdrawal of the season and the timing was largely in line with past years (although the quantity was more substantial).  The weekly withdrawal was 25% greater than last year (-36 Bcf) and considerably higher than the 2 Bcf withdrawal of the five year average.  The current storage level is now 2.3% below last year (3.878 Tcf) and 0.4%. or 15 Bcf, above the five year average (3.774 Tcf).

Temperatures last week averaged 45.7 degrees, which was 2.0 degrees cooler than last year and 1.9 degrees cooler than average.

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