Friday, October 3, 2014

EIA: Storage +112 Bcf to 3.1 Tcf

Welcome to the shoulder season.  I'd like to call it the Goldilocks Season, when it's not too hot but not too cold, leading to large storage injections, but "Goldilocks" has been taken over by astronomers looking for earth-like planets elsewhere in space.  I guess I could expand the Goldilocks theme by calling it the Third Bowl of Porridge, but the name starts to drift from the meaning, so I'll stick with the boring old "shoulder."  Anyway, the EIA announced yesterday that working gas in storage was up 112 Bcf to an even 3.1 Tcf.  The weekly injection was 13% higher than last year (+99 Bcf) and 32% above the five year average (+85 Bcf).  The current storage level is now 10.7% below last year (3.473 Tcf, a difference of 373 Bcf) and 11.4% below the five year average (3.499 Tcf, a difference of 399 Bcf).

Temperatures in the Lower 48 last week averaged 66.4 degrees, which was 1.3 degrees warmer than last year and 1.1 degrees warmer than normal.

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