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 194 Bcf last week, dropping from 2,078 Bcf to 1,884 Bcf. This is 23.4% below the 2,461 Bcf that was in storage at this point last year, and is 18.7% below the five-year average of 2,317 Bcf. This week’s storage draw was slightly higher than expected – analysts predicted a draw of 187 Bcf.
The Midwest and East Coast continue to combat winter temperatures. The largest draw came in the Midwest region, where stocks declined by 75 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the salt stocks of the South Central region is 46.5% lower than the five-year average for the area.
