Thursday, February 27, 2014

EIA: Gas in Storage -95 Bcf to 1.348 Tcf

The EIA reported today that working gas in storage was down 95 Bcf to 1.348 Tcf last week, taking a break from recent record withdrawals.  The withdrawal was 42% below last year (-165 Bcf) and 24% below the five year average (-125 Bcf).  The current storage level is 40.2% below last year (2.253 Tcf) and 34.5% below the five year average (2.059 Tcf).  Even with the thin withdrawal, the current storage level is 905 Bcf below last year and 711 Bcf below the five year average - still a sizable difference.


Temperatures in the Lower 48 last week averaged 39.3 degrees, which was 3.4 degrees warmer than last year and 1.7 degrees warmer than average.


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