Thursday, February 26, 2015

EIA: Gas in Storage -219 Bcf to 1.938 Tcf

The EIA reported this morning that working gas in storage was down 219 Bcf to 1.938 Tcf.  The weekly withdrawal was 87% greater than last year (-117 Bcf) and 67% higher than the five year average (-131 Bcf).  The current storage level is now 42.3% above last year (1.362 Tcf, a difference of 576 Bcf) and 1.5% below the five year average (1.968 Tcf, a difference of 30 Bcf).

With the big withdrawal this week, the deviation is back below zero...for now:

Temperatures in the Lower 48 last week averaged 27.4 degrees last week, which was 13.7 degrees cooler than last year and 18.0 degrees cooler than average.

But, as one will notice, the extreme cold temperatures in the east are partially offset by unseasonably hot temperatures in the west.  The EIA posted the 30 day anomaly image for February 23, which further illustrates the point:

1 comment:

Anonymous said...

Storage near 5 year average but price well below 5 year average. Not logical?