US Natural Gas Inventories See a Sharp Decline

In a recent report by the Energy Information Administration (EIA), it was revealed that the United States' working natural gas in storage saw a significant decrease. Specifically, there was a drop of 116 billion cubic feet (Bcf) in the week ending December 27, bringing the total to 3,413 Bcf.

Annual and Historical Comparisons

On an annual basis, the inventories declined by 67 Bcf. Furthermore, when compared to the five-year average of 3,259 Bcf, the stockpiles fell by 154 Bcf. Despite these decreases, the total working gas remained within the five-year historical range, indicating a complex but manageable situation for the US natural gas market.