Thursday, June 18, 2015

EIA: Gas in Storage +89 Bcf

The EIA announced that working gas in storage was up 89 Bcf to 2.433 Tcf.  The weekly injection broke a recent string of triple digit injections and was 21% lower than last year (+112 Bcf) and was largely in line with the five year average (+87 Bcf).  This is the approximate point in time last year when the enormous deficit in storage started to erode.  The current storage level is now 42.9% above last year (1.703 Tcf, a difference of 730 Bcf) and 1.9% above the five year average (2.387 Tcf, a difference of 46 Bcf).

Temperatures last week in the Lower 48 averaged 71.9 degrees, which was 1.7 degrees warmer than last year and 3.0 degrees warmer than average.

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