US natural gas in storage increases by 27 Bcf

US natural gas in storage increased by a last-then-expected 27 Bcf for a total of 3,012 Bcf in storage as of Friday, August 13, 2010, according to US Energy Information Administration (“EIA”) report today. Stocks were 185 Bcf less than last year at this time and 196 Bcf above the 5-year average of 2,816 Bcf. At 3,012 Bcf, total working gas is within the 5-year historical range. Analysts surveyed by Platts, expected natural gas reserves to increase between 28 billion cubic feet and 32 billion cubic feet. The 5 year average for that week is 50 Bcf.