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 99 Bcf last week, increasing to 1,725 Bcf from 1,629 Bcf. This is 31.4% below the 2,513Bcf that was in storage at this point last year, and is 22.5% below the five-year average of 2,225 Bcf. This week’s storage draw was in line with expectations, as analysts predicted a build of 101 Bcf.
Inventory increases were seen across the board this week, as the spring build continues. The largest increases came in the Midwest and East regions, which added 27 Bcf and 29 Bcf, respectively, while the smallest builds were in the Mountain region, where stocks increased by 6 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 33.7% below the average.
