Consensus was that we would see a Natural Gas build of 69 BCF today.  The actual injection came in at 74 BCF.  This immediately sent the prompt contract down to $3.78 per MMBTU, from yesterday’s close at $3.962 per MMBTU.

Working gas in storage was 3,414 Bcf as of Friday, September 24, 2010, according to EIA estimates. This represents a net increase of 74 Bcf from the previous week. Stocks were 166 Bcf less than last year at this time and 202 Bcf above the 5-year average of 3,212 Bcf. In the East Region, stocks were 22 Bcf above the 5-year average following net injections of 48 Bcf. Stocks in the Producing Region were 119 Bcf above the 5-year average of 931 Bcf after a net injection of 21 Bcf. Stocks in the West Region were 61 Bcf above the 5-year average after a net addition of 5 Bcf. At 3,414 Bcf, total working gas is within the 5-year historical range.

For businesses hoping to catch the bottom, NOW would be a good time to start thinking about making a move.  Commercial electricity rates should be a little lower today, but as we get closer to the elections the prospects for a turn increase each day.  Looking back over the years the rebound is often rapid, and unexpected.  So, with the heavy injection you now have another week to get a deal done at extremely attractive rates.