Natural Gas Storage Report - May 30

[dan_s]

Working gas in storage was 2,141 Bcf as of Friday, May 24, 2013, according to EIA estimates. This represents a net increase of 88 Bcf from the previous week. Stocks were 664 Bcf less than last year at this time and 88 Bcf below the 5-year average of 2,229 Bcf.

This is about what analysts expected to see. We will have a couple more large injections to storage before they start to decline. Gas in storage should stay well below the 5-year average all summer. If the deficit to the 5-year average grows, you will see the price of gas going up.