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 23 Bcf last week, increasing to 1,130 Bcf from 1,107 Bcf. This is 16.8% below the 1,358 Bcf that was in storage at this point last year and is 30.9% below the five-year average of 1,635 Bcf. This week’s storage build surpassed expectations, as analysts predicted a build of 8 Bcf.

 

Most regions saw a build this week, with the largest in the South Central region, where stocks increased by 35 Bcf. The only draws were seen in the Midwest and East regions, where stocks fell by 7 Bcf and 15 Bcf.

Stocks in every region are below the five-year average. Gas in storage in the Pacific region is the farthest below the five-year average for the area, at 44.3% below the average.

By Richard Rostad, analyst, Oil & Gas 360

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