Monday, December 28, 2015

EIA: Gas in Storage -32 Bcf to 3.814

Another warm week, another crappy storage report.  The EIA announced last week that working gas in storage was down only 32 Bcf to 3.814 Tcf.  The angle of the red line foreshadows a bad year coming (unless the Polar Vortex drops in for a visit)...

The weekly withdrawal was 38% below last year (-52 Bcf) and 74% lower than the five year average (-121 Bcf).  The current storage level is now 17.2% below last year (3.253 Tcf, a difference of 561 Bcf) and 12.1% below the five year average (3.403 Tcf, a difference of 411 Bcf).

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