Natural Gas Storage Report - Oct. 4

dan_s · Post by **dan_s** » Thu Oct 04, 2012 11:29 am

Working gas in storage was 3,653 Bcf as of Friday, September 28, 2012, according to EIA estimates. This represents a net increase of 77 Bcf from the previous week. Stocks were 272 Bcf higher than last year at this time and 281 Bcf above the 5-year average of 3,372 Bcf.

This is slightly bearish but nothing to worry about. Adds to storage normally go up in October. First draws from storage start in mid-November.

Good news is that there is now zero risk of storage filling prior to winter heating season.

I now believe that a cold December will push natural gas over $4/mcf.