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 29 Bcf last week, dropping from 1,383 Bcf to 1,354 Bcf. This is 34.0% below the 2,051 Bcf that was in storage at this point last year, and is 20.4% 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 27 Bcf.
The only region to see gas inventories increase was salt stocks in the South Central region, were inventories rose by 7 Bcf. The East and Midwest regions showed the only significant declines as stocks in those areas fell by 13 Bcf and 18 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 28.7% below the average.
