US natural gas in storage is near a 10-year low

7 Oct 2013 by Jim Fickett.

Reporters often still speak of a gas glut, but in fact the opposite situation obtains. Natural gas in storage, measured in months of supply, is approximately at a 10-year low.

And the CEO of one of the majors has finally noticed that it is extremely difficult to make money with current low prices. From the Financial Times:

Peter Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. …

Shell has invested at least $24bn in so-called unconventional oil and gas in North America. But it is a bet that has yet to pay off. Its North American upstream business has struggled to turn a profit