Friday, November 13, 2015

EIA: Gas in Storage +49 Bcf to 3.978 Tcf

Oh, El Nino!  A new record high:  the EIA reported this morning that working gas in storage was up 49 Bcf to 3.978 Tcf.  It looks to be raging towards 4 Tcf, endangering my fateful prediction from last week that it would not break through the mystical 4.  But I'm going to stick with last week's prediction.

The weekly injection was 4% higher than last year (+47 Bcf) but more than double the five year average (+23 Bcf).  The current storage level is now 10.3% higher than last year (3.605 Tcf, a difference of 373 Bcf) and 4.5% above the five year average (3.805 Tcf, a difference of 373 Bcf).

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