Latest EIA Storage NumbersThe latest EIA storage report was October 29 and covers all the way to October 23.
Working gas totaled 3,724 billion cubic feet after an 80 billion cubic feet weekly injection.
Stocks were 38 billion cubic feet above the five-year average, but 147 billion cubic feet below the corresponding year-earlier level.
Against seasonal norms, a national cushion reduces the urgency of a general scarcity argument at the moment.
Against last year, the smaller inventory base means that the market does not have the same starting buffer that it did back then.
Latest EIA Storage Numbers
The latest EIA storage report was October 29 and covers all the way to October 23. Working gas totaled 3,724 billion cubic feet after an 80 billion cubic feet weekly injection. Stocks were 38 billion cubic feet above the five-year average, but 147 billion cubic feet below the corresponding year-earlier level. They describe different reference points, but both of these should be paid close attention to.
Against seasonal norms, a national cushion reduces the urgency of a general scarcity argument at the moment. Against last year, the smaller inventory base means that the market does not have the same starting buffer that it did back then. The practical issue is how quickly that cushion will change.
