Graphic Of The Day: US Natural Gas In Underground Storage
Anyone see a long-term trend here? Besides the fact that the annual variation in underground natural gas storage volume is large, and seems correlated with temperate zone solar input. Who'd have thought that there'd be less stored this August than last?
Last winter was pretty cold in the northern US states. Could happen again.
Hurricane Gus is barreling across the US Gulf as we write; and natural gas is extracted offshore just as is oil. That could cut production/storage for a period. Just thinking. Bet those future marketeers are too.
The reduced storage might have to do with power generation moving away from coal and toward gas??? Via::EIA, Weekly Natural Gas Storage Report