NG Storage Report - June 10

dan_s · Post by **dan_s** » Sat Jun 18, 2011 10:55 am

Working gas in storage was 2,256 Bcf as of Friday, June 10, 2011, according to EIA estimates. This represents a net increase of 69 Bcf from the previous week. Stocks were 275 Bcf less than last year at this time and 76 Bcf below the 5-year average of 2,332 Bcf.

This is mildly bullish for NG, although I do expect the price to decline into the 3rd quarter.
> At this point last year storage levels were above the 5-year average.
> There should be at least two more weeks of rather low injections (due to heat in the South causing lots of demand to NG to generate power).