Thursday, May 21, 2009

Natural Gas Inventories: Storage Will Overflow; Comparison With 1 Year Ago

NorthAmerican natural gas storage weekly inventories have just been reported. Stock piles are up +103Bcf, bringing the total stored to 2,116Bcf. Last year at this time it was 1,602Bcf. So we are 514Bcf higher, which is worth several weeks of the gas.

At this rate predictions are that there will be no place to store it by mid summer. If this happens, price will colapse. Buyers of UNG beware.

This chart compares the storage this year vs 52 weeks ago.

Please click to enlarge

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