Thursday, April 10, 2014

EIA Natural Gas Weekly Storage: +4 BCF

EIA Weekly Natural Gas Storage Report
An unexpectedly small storage injection announced today by EIA sent gas prices sharply higher.  Expectations were for a 15-20 BCF increase in supplies, and a 4 BCF injection was announced.  This brings total working gas in storage to 826 BCF, and marks the end of the winter withdrawal season.  Storage remains 997 BCF below the 5 year average going into injection season.

Regionally, the East continued in withdrawal mode at -5, leaving it at a massive 448 BCF below the 5 year average.

The West held flat this week at 160 BCF, which was 137 BCF below the 5 year average.

The Producing region saw a 9 BCF injection, all in salt-dome facilities, and it stands 411 BCF below the 5 year average.