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 93 Bcf last week, dropping from 1,625 Bcf to 1,532 Bcf. This is 31.9% below the 2,250 Bcf that was in storage at this point last year, and is 16.2% below the five-year average of 1,828 Bcf. This week’s storage draw was in line with expectations, as analysts predicted a draw of 97 Bcf.
Regional declines were concentrated in the East and Midwest regions, as stocks in those areas fell by 45 Bcf and 30 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 25.6% below the average.
