EIA: Natural Gas Into Storage UP 71 Bcf, Slightly Above Estimates

The new front futures have reversed their down-move and are currently up 2.9 cents at $2.447.
Remember, the last expiration rolled up the contango ladder and didn't look back, running from the 2.10 area to 2.75. We don't look for that to happen this go-round but there is some upward pressure from the roll.
From the Energy Information Administration:

Released: May 31, 2012 at 10:30 a.m. (eastern time) for the Week Ending May 25, 2012.
Next Release: June 7, 2012 

Working Gas in Underground Storage, Lower 48

Region	Stocks in billion cubic feet (Bcf)			Historical Comparisons
	05/25/12	05/18/12	Change	Year Ago (05/25/11)		5-Year (2007-2011) Average
				Stocks (Bcf)	% Change	Stocks (Bcf)	% Change
East	1,325	1,281	44	896	47.9	957	38.5
West	410	399	11	272	50.7	316	29.7
Producing	1,080	1,064	16	915	18.0	817	32.2
Total	2,815	2,744	71	2,083	35.1	2,091	34.6

Notes and Definitions Beginning with the report period for the week ending March 16, 2012, EIA is including salt dome and nonsalt-dome subtotals for the Producing Region in the Summary section.   The sum of the components may not equal the total for the Producing Region, because of independent rounding.

Summary Working gas in storage was 2,815 Bcf as of Friday, May 25, 2012, according to EIA estimates. This represents a net increase of 71 Bcf from the previous week. Stocks were 732 Bcf higher than last year at this time and 724 Bcf above the 5-year average of 2,091 Bcf. In the East Region, stocks were 368 Bcf above the 5-year average following net injections of 44 Bcf. Stocks in the Producing Region were 263 Bcf above the 5-year average of 817 Bcf after a net injection of 16 Bcf. Stocks in the West Region were 94 Bcf above the 5-year average after a net addition of 11 Bcf. At 2,815 Bcf, total working gas is above the 5-year historical range. Working gas stocks in the Producing Region, for the week ending May 25, 2012, totaled 1,080 Bcf, with 261 Bcf in salt cavern facilities and 819 Bcf in nonsalt cavern facilities. Working gas stocks increased 4 Bcf in the salt cavern facilities and increased 12 Bcf in the nonsalt cavern facilities since May 18. An historical series of the salt and nonsalt subtotals of the Producing Region is available for download at: wngsr_producing_region_salt.xls.

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2007 through 2011. Source: Form EIA-912, "Weekly Underground Natural Gas Storage Report." The dashed vertical lines indicate current and year-ago weekly periods.