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 119 Bcf last week, dropping from 2,197 Bcf to 2,078 Bcf. This is 19.5% below the 2,581 Bcf that was in storage at this point last year, and is 15.9% below the five-year average of 2,471 Bcf. This week’s storage draw was as expected – analysts predicted a draw of 116 Bcf.
The Midwest and East Coast continue to combat winter temperatures. The largest draw came in the Midwest region, where stocks declined by 53 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the salt stocks of the South Central region is 26.7% lower than the five-year average for the area.
