Thursday, January 9, 2014

EIA Storage: -157 Bcf to 2.817 Tcf

The EIA reported this week that working gas in storage was down 157 Bcf to 2.817 Tcf.  The weekly withdrawal was 18% lower than last year (-191 Bcf) but 20% greater than the five year average (-131 Bcf).  The current storage level is now 15.8% below last year (3.345 Tcf) and 10.1% below the five year average.

With recent large withdrawals, the beginning of year deviation of the current storage level from the past couple of years is fairly wide:

Temperatures last week averaged 34.9 degrees, which was 3.2 degrees warmer than last year and 1.0 degree warmer than average.  Bet you won't be able to say that next week...

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