NatGas in Storage Triples from April 1 to October 31

On April 1 of this year the U.S. exited natural gas consumption season (“winter”) with a relatively low value of 1,155 billion cubic feet (Bcf) in storage. Fast forward to October 31 and the end of the injection season, when gas is stored away for the winter months, and that number had soared more than 3X to 3,724 Bcf. Underground storage of natgas as of October 31 was 37 Bcf higher than the previous five-year end-of-October average. The U.S. Energy Information Administration, our favorite government agency, calls this year’s injection season ramp-up pace a “near-record.”

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