Thursday, August 27, 2009

Natural gas inventories bubble to the brim

Falling industrial demand, coupled with a mild summer in much of the nation, have pushed natural gas inventories to 18% above the five-year average for this time of year, according to the Energy Information Administration.

Working Gas in Underground Storage Compared with 5-Year Range image

Source: EIA

And with excess gas in storage, the drop in prices to lows not seen since early in the decade or predictable.  If the trend continues, it should cost much less this year to heat many of the nation’s homes that are reliant on the odorless/colorless commodity.

Details available at Examiner.

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