Natural Gas Storage Report - Aug 20

[dan_s]

Working gas in storage was 3,052 Bcf as of Friday, August 20, 2010, according to EIA estimates. This represents a net increase of 40 Bcf from the previous week. Stocks were 198 Bcf less than last year at this time and 177 Bcf above the 5-year average of 2,875 Bcf.

NG storage will fill prior to winter heating season but it now appears there is enough room left so there won't be much gas-on-gas competition for the last available space. NG may dip as low as $3.50 before the first cold waves result in draws.

Dan