U.S. natural gas inventories show 25 Bcf draw

U.S. natural gas inventories saw a larger than expected draw today, according to information from the Department of Energy. The DOE reported natural gas inventories for the week ended March 25, 2016, were down 25 Bcf to 2,468 Bcf. The current level of natural gas in storage is still above average, but prices realized small gains on the news with markets expecting a draw of 24 Bcf.

nat gas storage

Natural gas prices were up this week ahead of the DOE’s release today with expectations that weather patterns could dictate more heating degree days and natural gas storage would decrease. Storage usually shows draws at this time of year as demand for heating continues through the end of winter.

Crude oil storage also came in better than estimates yesterday with a smaller build than was expected by analysts.

Legal Notice