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Natural Gas Prices Continue to March Down

March is the last month of the five month winter heating season.  As of March 30, the level of US working gas in storage was 2,479 BCF.  This is an increase during a time of the year when natural gas is historically withdrawn from storage, not injected.  The March 30 level is 927 BCF, or 59.7% greater than the average March working gas level of 1,552 BCF recorded over the previous five years.  The graph below shows the minimum, average and maximum levels of working gas in storage over the years 2007 through 2011 as well as the levels recorded so far during this year, 2012.

The graphs below show the January, February and March working gas storage levels compared to the average level over the period 2007 through 2011.

As seen in the table below, the volume of natural gas in storage continues to increase compared to the historical average.

Yesterday, the May natural gas futures contract settled at $2.09 per Dekatherm.

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Copyright 2012 by Avalon Energy® Services LLC