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 183 Bcf last week, dropping from 2,767 Bcf to 2,564 Bcf. This is 12.5% below the 2,952 Bcf that was in storage at this point last year, and is 12.3% below the five-year average of 2,946. This week’s storage draw was as expected, analysts predicted a draw of 197 Bcf.
Winter weather led to significant draws in every region. The largest draw came in the Midwest region, where stocks declined by 61 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the salt stocks of the South Central region is 28.0% lower than the five-year average for the area.
