Working gas in storage was 3,258 Bcf as of Friday, August 21, 2009, according to EIA estimates, representing a net increase of 54 Bcf from the previous week.
Stocks were 516 Bcf higher than last year at this time and 500 Bcf above the 5-year average of 2,758 Bcf.
It seems just about all regions are seeing increases as well. In the East Region, stocks were 153 Bcf above the 5-year average following net injections of 43 Bcf. Stocks in the Producing Region were 271 Bcf above the 5-year average of 808 Bcf after a net injection of 5 Bcf. Stocks in the West Region were 76 Bcf above the 5-year average after a net addition of 6 Bcf. At 3,258 Bcf, total working gas is above the 5-year historical range.
The United States Natural Gas (NYSE: UNG) is trading down by 2.1% at $11.37 and the Oil Services HOLDRs (NYSE: OIH) is trading down 2.6% at $105.10.
JON C. OGG
August 27, 2009