Natural Gas Storage Report - May 9

dan_s · Post by **dan_s** » Thu May 09, 2013 10:42 am

Working gas in storage was 1,865 Bcf as of Friday, May 3, 2013, according to EIA estimates. This represents a net increase of 88 Bcf from the previous week. Stocks were 737 Bcf less than last year at this time and 99 Bcf below the 5-year average of 1,964 Bcf.

We are now in the "Shoulder Season" between winter heating demand and summer electricity demand. It will last another 6-8 weeks before the builds start getting smaller. The key for natural gas prices is that storage levels stay at or below the 5-year average. Last year the NG in storage was WAY over the 5-year average all summer, which significantly depressed prices.