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 63 Bcf last week, dropping from 1,446 Bcf to 1,383 Bcf. This is 32.7% below the 2,055 Bcf that was in storage at this point last year, and is 20.0% below the five-year average of 1,729 Bcf. This week’s storage draw was somewhat below expectations, as analysts predicted a draw of 73 Bcf.
Nearly every region saw gas stocks decrease this week, with only nonsalt stocks in the South Central region showing any increase. Regional declines were concentrated in the East and Midwest regions, as stocks in those areas fell by 28 Bcf and 31 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 28.5% below the average.
