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 359 Bcf last week, dropping from 3,126 Bcf to 2,767 Bcf. This is 13.0% below the 3,182 Bcf that was in storage at this point last year, and is 12.1% below the five-year average of 3,149. This week’s storage build was even larger than expected, as analysts predicted a draw of 330 Bcf.
Winter weather led to significant draws in every region. The largest draw came in the South Central region, where stocks declined by 153 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the salt stocks of the South Central region is 27.7% lower than the five-year average for the area.
