Natural Gas Storage Report - Aug 20
Posted: Fri Aug 27, 2010 10:15 am
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
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