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 62 Bcf last week, increasing from 1,343 Bcf to 1,299 Bcf. This is 40.2% below the 2,246 Bcf that was in storage at this point last year, and is 28.4% below the five-year average of 1,877 Bcf. This week’s storage draw was in line with expectations, as analysts predicted a draw of 52 Bcf.
Inventory increases were seen across the board this week, as the spring build began. The largest increase came in the South Central region, where stocks increased by 22 Bcf, while the smallest build was in the Mountain region, which added 2 Bcf.
Stocks in every region are below the five-year average. Gas in storage in the Midwest region is the farthest below the five-year average for the area, at 42.0% below the average.
