Natural Gas Storage Report
Posted: Thu Jul 12, 2012 1:08 pm
Working gas in storage was 3,135 Bcf as of Friday, July 6, 2012, according to EIA estimates. This represents a net increase of 33 Bcf from the previous week. Stocks were 548 Bcf higher than last year at this time and 516 Bcf above the 5-year average of 2,619 Bcf.
This is a mildly bullish report. If we keep getting low increases like this all summer, the surplus over the 5-year average will shrink to a "manageable" number by the time winter starts. Heat moving into the Northeast will help.
This is a mildly bullish report. If we keep getting low increases like this all summer, the surplus over the 5-year average will shrink to a "manageable" number by the time winter starts. Heat moving into the Northeast will help.