Weekly Gas Storage: Large Draws Continue

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 288 Bcf last week, dropping from 2,584 Bcf to 2,296 Bcf. This is 18.4% below the 2,815 Bcf that was in storage at this point last year, and is 17.5% below the five-year average of 2,782. This week’s storage draw was higher than expected, analysts predicted a draw of 272 Bcf.

Winter weather led to continued draws in every region. The largest draw came...