Sharp Decline in US Natural Gas Inventories

In a recent report by the Energy Information Administration (EIA), it was revealed that the United States has seen a substantial decrease in its natural gas storage. Specifically, the week ending January 10 witnessed a drop of 258 billion cubic feet (Bcf), bringing the total working natural gas storage down to 3,115 Bcf.

Annual and Historical Comparisons

This decline is not just significant on a weekly basis but also marks a 111 Bcf decrease compared to the same period last year. Despite this, the current stockpiles are still 77 Bcf above the five-year average of 3,038 Bcf, indicating that the total working gas remains within the expected historical range.