Friday, October 9, 2009

Natural Gas Report: Storage Overflow in 2.8 Weeks

Natural gas inventories ths week showed an injection of 69Bcf, somewhat higher than the expected 54Bcf. Storage is 14.8% higher than last year, and 15.1% higher than the 5-year average.

At the current rate, and if nothing changes, storage will overflow in 2.84 weeks. Our target in August was was mid to late October.

Storage comparison chart:

Now we have a potential hurricane developing ("Henry"):

It's current projected trajectory however seems to be indicating it will pass north of Cuba and targetting Florida, but it is not sure at this point. We have to keep an eye on it.

UPDATE 8AM: Henry has been downgraded, it is no longer a threat at this point.

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