U.S. Working Gas in Storage Rises 19 Bcf to Hit Record 3.850 Tcf

Thursday, November 17, 2011

US natural gas storage stocks rose 19 Bcf to 3.850 Tcf during the week that ended Friday, the US Energy Information Administration said Thursday, putting current levels of storage stocks at an all-time high for this time of year.

Maria Sanchez, an analyst with Bentek Energy, a unit of Platts, called for injections to continue until the week ending November 24 at the very least. She added that withdrawals might be seen during the last week of November, but that would depend on weather.

Bentek also predicts storage inventories will end the season during the first week of April at 1.7 Tcf -- at least 120 Bcf higher than year-ago levels. Assuming normal weather scenarios, winter withdrawals will average 13.5 Bcf/d, Bentek said.

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