Thursday, November 29, 2012

Natural Gas Storage: Injection, Not Withdrawl, Futures Fade

The front futures are down 3.6% at $3.66.
From the EIA:

Released: November 29, 2012 at 10:30 a.m. (eastern time) for the Week Ending November 23, 2012.
Next Release: December 6, 2012 

Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
11/23/12 11/16/12 Change Year Ago (11/23/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working gas in storage was 3,877 Bcf as of Friday, November 23, 2012, according to EIA estimates. This represents a net increase of 4 Bcf from the previous week. Stocks were 26 Bcf higher than last year at this time and 190 Bcf above the 5-year average of 3,687 Bcf. In the East Region, stocks were 5 Bcf above the 5-year average following net withdrawals of 12 Bcf. Stocks in the Producing Region were 135 Bcf above the 5-year average of 1,152 Bcf after a net injection of 12 Bcf. Stocks in the West Region were 50 Bcf above the 5-year average after a net addition of 4 Bcf. At 3,877 Bcf, total working gas is above the 5-year historical range....MORE