"Working gas in storage was 2,179 Bcf as of Friday, January 30, 2009, according to EIA estimates. This represents a net decline of 195 Bcf from the previous week. Stocks were 60 Bcf higher than last year at this time and 17 Bcf above the 5-year average of 2,162 Bcf. In the East Region, stocks were 118 Bcf below the 5-year average following net withdrawals of 125 Bcf. Stocks in the Producing Region were 80 Bcf above the 5-year average of 678 Bcf after a net withdrawal of 50 Bcf. Stocks in the West Region were 54 Bcf above the 5-year average after a net drawdown of 20 Bcf. At 2,179 Bcf, total working gas is within the 5-year historical range." eia.doe.gov
"“The stimulus package is a big deal,” said Chris Jarvis, president of Caprock Risk Management LLC in Hampton Falls, New Hampshire. “Every global market is trying to re-inflate and eventually that money is going to find its way into commodities.”
“The supply and demand fundamentals are actually bullish for gas,” said Jarvis. “I know people are concerned about the industrial demand, but we’ll likely lose production faster.”" (Bloomberg)
More Links:
U.S. Natural Gas Inventories Fall, Remain in Surplus
Natural Gas E&P Stocks Should Rebound Quickly
