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 33 Bcf last week, dropping from 3,693 Bcf to 3,726 Bcf. This is 7.7% below the 4,002 Bcf that was in storage at this point last year, and is 2.8% below the five-year average of 3,800. This week’s storage draw was in line with expectations, as analysts predicted an increase of 36 Bcf.
Salt stocks in the South Central region and the Mountain region saw a build this week, adding a combined 9 Bcf. The largest draw came in the Midwest region, where stocks declined by 22 Bcf.
Stocks in the Mountain region and salt stocks in the South Central region are above the five-year average. Gas in storage in the Pacific region is 12.5% lower than the five-year average for the area.
