The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.
In total, the EIA reports natural gas stocks fell by 18 Bcf last week, dropping from 3, 790 Bcf to 3,772 Bcf. This is 6.7% below the 4,043 Bcf that was in storage at this point last year, and is 2.6% below the five year average of 3,873. This week’s storage draw was in line with expectations, as analysts predicted an increase of 15 Bcf.
The only stock build this week was found in salt storage in the South Central region, which added 5 Bcf. The largest draw came in the East region, where stocks declined by 10 Bcf.
Stocks in the Midwest region are above the five-year average. Gas in storage in the Pacific region is 13.5% lower than the five-year average for the area.
