Natural Gas Storage Report - June 21
Posted: Thu Jun 21, 2018 9:59 am
Working gas in storage was 2,004 Bcf as of Friday, June 15, 2018, according to EIA estimates. This represents a net increase of 91 Bcf from the previous week.
Stocks were 757 Bcf less than last year at this time and 499 Bcf below the five-year average of 2,503 Bcf. At 2,004 Bcf, total working gas is within the five-year historical range.
Two months ago my "SWAG" was that gas in storage would be ~400 Bcf below the 5-year average at the end of June. Now it looks like it will be over 450 Bcf below the 5-year average on June 30.
There are 21 weeks left before the next winter heating season begins. We need at least 3,800 Bcf in storage to safely make it through a normal winter. Plus, we use a lot more natural gas today than we did five years ago.
Stocks were 757 Bcf less than last year at this time and 499 Bcf below the five-year average of 2,503 Bcf. At 2,004 Bcf, total working gas is within the five-year historical range.
Two months ago my "SWAG" was that gas in storage would be ~400 Bcf below the 5-year average at the end of June. Now it looks like it will be over 450 Bcf below the 5-year average on June 30.
There are 21 weeks left before the next winter heating season begins. We need at least 3,800 Bcf in storage to safely make it through a normal winter. Plus, we use a lot more natural gas today than we did five years ago.