Natural Gas Reserves Still Well Below Average
Posted at 12:49 p.m. on July 17, 2014
Continuing a trend of large storage inputs since May, the nation’s gas reserves added 107 billion cubic feet of gas last week, though stocks are still 25 percent lower than average at this time of year, the Energy Information Administration reports.Following record cold temperatures, reserves fell in March to the lowest level in more than a decade.
The administration predicted in March that a record storage input season through October would still leave reserves at their lowest levels since 2008. The storage inputs are expected to keep prices above $4 per British thermal unit, high enough to limit gas use for electricity generation.