Significant Decrease in US Gas Inventories

According to the latest report from the Energy Information Administration (EIA), the United States has witnessed a notable decrease in its natural gas storage. As of the week ending December 20, the working gas in storage was recorded at 3,529 billion cubic feet, marking a net decrease of 93 billion cubic feet from the previous week.

Year-over-Year Comparison and Historical Context

When compared to the same period in 2023, the current gas stocks have shown an increase of 14 billion cubic feet. Furthermore, the total working gas is 166 billion cubic feet above the five-year average of 3,363 billion cubic feet, indicating that despite the recent decrease, the overall storage levels remain within the five-year historical range.