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 19 Bcf last week, dropping from 1,354 Bcf to 1,335 Bcf. This is 35.2% below the 2,060 Bcf that was in storage at this point last year, and is 21.9% below the five-year average of 1,710 Bcf. This week’s storage draw was in line with expectations, as analysts predicted a draw of 12 Bcf.
Two regions saw gas inventories increase this week, the South Central and Pacific regions, where inventories rose by 12 Bcf and 5 Bcf, respectively. The East and Midwest regions showed the only significant declines as stocks in those areas fell by 12 Bcf and 20 Bcf, respectively.
Stocks in every region are below the five-year average. Gas in storage in the Mountain region is the farthest below the five-year average for the area, at 32.0% below the average.
