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 rose by 106 Bcf last week, increasing from 1,538 Bcf to 1,432 Bcf. This is 34.8% below the 2,359 Bcf that was in storage at this point last year, and is 24.6% below the five-year average of 2,039 Bcf. This week’s storage draw was perfectly in line with expectations, as analysts predicted a draw of 104 Bcf.
Inventory increases were seen across the board this week, as the spring build continues. The largest increases came in the South Central and East regions, which added 32 Bcf each, while the smallest build was in the Mountain region, where stocks increased by 6 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the Midwest region is the farthest below the five-year average for the area, at 36.6% below the average.
