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 78 Bcf last week, dropping from 1,760 Bcf to 1,682 Bcf. This is 28.8% below the 2,362 Bcf that was in storage at this point last year, and is 18.1% below the five-year average of 2,054 Bcf. This week’s storage draw was slightly higher than expected – analysts predicted a draw of 77 Bcf.
Salt stocks in the South Central region were the only regional storage that rose this week, increasing by 8 Bcf. Cold weather caused yet another large decrease in the Midwest, with gas in storage falling by 30 Bcf down to 398 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the nonsalt stocks of the South Central region is the farthest below the five-year average for the area, at 26.0% below the average.
