Natural gas stockpiles up less than expected
Natural gas stockpiles up less than expected
By Ernest Scheyder
AP Energy Writer / June 25, 2009
Email| Print| Yahoo! Buzz| ShareThisText size – + NEW YORK—Natural gas stockpiles rose less than expected last week, though storage levels remain far above historical norms, the government said Thursday.
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The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states rose by 94 billion cubic feet to about 2.65 trillion cubic feet for the week ended June 19.
Analysts had expected a boost of between 96 billion and 100 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The inventory level was 22 percent above the five-year average of about 2.17 trillion cubic feet, and 31 percent above last year's storage level of about 2.02 trillion cubic feet, according to the government data.
Natural gas rose 7.7 cents to $3.983 per 1,000 cubic feet on the New York Mercantile Exchange.
By Ernest Scheyder
AP Energy Writer / June 25, 2009
Email| Print| Yahoo! Buzz| ShareThisText size – + NEW YORK—Natural gas stockpiles rose less than expected last week, though storage levels remain far above historical norms, the government said Thursday.
Discuss
COMMENTS (0)
The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states rose by 94 billion cubic feet to about 2.65 trillion cubic feet for the week ended June 19.
Analysts had expected a boost of between 96 billion and 100 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The inventory level was 22 percent above the five-year average of about 2.17 trillion cubic feet, and 31 percent above last year's storage level of about 2.02 trillion cubic feet, according to the government data.
Natural gas rose 7.7 cents to $3.983 per 1,000 cubic feet on the New York Mercantile Exchange.
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Permalink Reply by The_Baron on -
Parker, you beat me to it this week.
but here it is anyway:
Summary
Working gas in storage was 2,651 Bcf as of Friday, June 19, 2009, according to EIA estimates. This represents a net increase of 94 Bcf from the previous week. Stocks were 631 Bcf higher than last year at this time and 482 Bcf above the 5-year average of 2,169 Bcf. In the East Region, stocks were 115 Bcf above the 5-year average following net injections of 70 Bcf. Stocks in the Producing Region were 265 Bcf above the 5-year average of 732 Bcf after a net injection of 12 Bcf. Stocks in the West Region were 102 Bcf above the 5-year average after a net addition of 12 Bcf. At 2,651 Bcf, total working gas is above the 5-year historical range.
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