React to this, would like to discuss.
Storage for EIA report date 7/14/11
this weeks storage poll is for week ending 7/8 and reported by EIA on 7/14.
warmest week of the summer season by a large margin, however, a large portion of
the heat is centered over the midwest where gas fired generation use is lowest.
july 4th holiday weekend work closures took an estimated 6.9 bcf of gas demand
out of the market this week. domestic supply flat from previous week; imports
(canada + lng) up slightly. storage injection rate in the producing region
slowing due to record heat along with declining offshore and gulf supply.
helping somewhat heat in the South is recent slowing of industrial demand.
northeast injection rate is up nearly 20% over last years injection rate as
temperatures have been closer to seasonal norms and marcellus output continues
holiday week storage revisions/corrections remain possible in this
total population weighted degree demand (HDD + CDD) --
last week: 88 (87cdd 1hdd)
previous week: 70 (68cdd 2hdd)
same week last yr: 85 (85cdd 0hdd)
5 year avg: 69(69cdd 0hdd)
* note: data is pulled from NOAA with a week ending on Sat.: Climate Prediction
Center - Monitoring & Data: Degree Days Statistics
previous week: +95
same week last yr: +78
5 yr avg: +88
*note: avg and last year storage figures are calculated using this historical
data-set provided by eia: http://ir.eia.gov/ngs/ngsstats.xls
my current estimate is +74 bcf
Still have to finish the "where do these EIA numbers come from" comments.