Thursday, June 4, 2015

Ouch! EIA: Gas in Storage +132 Bcf to 2.233 Tcf

The EIA reported that working gas in storage was up a whopping 132 Bcf this week to 2.233 Tcf.  The injection is a record for this week and was 12% higher than last year (+118 Bcf) and 43% above the five year average (+92 Bcf).  The current storage level is now 50.7% higher than last  year (1.482 Tcf, a difference of 751 Bcf) and 1.0% higher than the five year average (2.211 Tcf, a difference of 22 Bcf).

The current storage level briefly topped the five year average back in February, but it hasn't consistently been above average since late 2013.  That streak seems likely to end this summer:

Temperatures last week averaged 66.6 degrees, which was 1.7 degrees cooler than last year and 1.4 degrees warmer than average.

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