Friday, May 1, 2009

Natural Gas Storage

Natural gas inventories were released Thursday, showing a buildup of 82Bcf. This was very much in line with espectations of around 80Bcf. There were no surprises, however the total amount under storage is still touching the top of the 5 year average:

(please click to enlarge)

An injection of about 150Bcf next week will pierce the top of the prior 5 year average and will look even worse. There is a very distinct possibility that next week's injection may be even higher than 150Bcf. It should be very interesting to watch and see what happens with the average itself.

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