EiA - Weekly Natural Gas Storage Report - July 3
Posted: Wed Jul 03, 2019 12:29 pm
The report was issued a day earlier than normal so more people working at EIA can take off on July 4th.
Working gas in storage was 2,390 Bcf as of Friday, June 28, 2019, according to EIA estimates. This represents a net increase of 89 Bcf from the previous week. Stocks were 249 Bcf higher than last year at this time and 152 Bcf below the five-year average of 2,542 Bcf. At 2,390 Bcf, total working gas is within the five-year historical range.
There is still plenty of room in storage, but we need to see lower injections soon. In the last 13 weeks (one quarter) the net increase in storage has been 390 Bcf above the 5-year average. So, storage will move over the 5-year average before the end of Q3 at the pace we are on.
Working gas in storage was 2,390 Bcf as of Friday, June 28, 2019, according to EIA estimates. This represents a net increase of 89 Bcf from the previous week. Stocks were 249 Bcf higher than last year at this time and 152 Bcf below the five-year average of 2,542 Bcf. At 2,390 Bcf, total working gas is within the five-year historical range.
There is still plenty of room in storage, but we need to see lower injections soon. In the last 13 weeks (one quarter) the net increase in storage has been 390 Bcf above the 5-year average. So, storage will move over the 5-year average before the end of Q3 at the pace we are on.