Natural Gas Inventories Setting Record Highs
Working gas in storage was 3,813 Bcf as of Friday, November 6, 2009, according to EIA estimates. This represents a net increase of 25 Bcf from the previous week. Stocks were 350 Bcf higher than last year at this time and 409 Bcf above the 5-year average of 3,404 Bcf. In the East Region, stocks were 118 Bcf above the 5-year average following net injections of 8 Bcf. Stocks in the Producing Region were 223 Bcf above the 5-year average of 976 Bcf after a net injection of 10 Bcf. Stocks in the West Region were 67 Bcf above the 5-year average after a net addition of 7 Bcf. At 3,813 Bcf, total working gas is above the 5-year historical range.
+25 bcf vs. expectated +15/+20 and of course at record capacity. Given the NOAA weather forcast storage capacity will likely be tested over the next week or two. Watch the cash discount.
Red is above avg. 8-14 days