EIA Nat Gas Inventory Report 06.25.09

For Week Ending 6.19.09
Lower 48 Nat Gas Supplies
Act +94 Est +98 Last Week +114 Year ago +85 5Yr Avg +84
Current = 2,651
Last week= 2,557 + 3.70% from last week
5 Yr Max = 2,504 +5.95% from 5 Yr Max
5 Yr Avg = 2,169 + 22.2% from 5 Yr avg
Year Ago = 2,020 + 31.2% from last year
5 Yr Min = 1,858

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.
(Source EIA)

GSH Analysis
The smaller –than-expected build is a slightly positive but the market remains well supplied. The excessive heat may also be providing underlying support. Note that July options expire today and July futures expire at the end of pit trading tomorrow