Friday, June 19, 2009

Natural Gas Report June 18: Overflow in 9.1 to 10.9 weeks

Natural gas inventories were released today:

(please click to enlarge).

Inventories increased by 114Bcf during the week, bringing the total to 2.557Tcf, which is now 32.1% higher than last year, and 22.6% higher than the 5-year average.

The storage is significantly above the 5-year average channel. The chart belows compares 2009 with last year:

At the current rate, the estimated number of weeks to storage overflow is now between 9.1 and 10.9 weeks, some time in August.

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