Thursday, June 25, 2009

Natural Gas Report: Overflow in 10.0 to 12.2 Weeks

Natural gas storage inventories were released today. The chart below compares the storage curve last year and this year.

(click to enlarge)

The chart speak for itself. Storage is 31% higher than last year and 22.2% higher than the 5-year average.

At the current rate, North American storage will overflow in 10.0 to 12.2 weeks. As we have stated repeatedly, we remain short until sometime near the end of July or early August.

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