Sharp Decline in US Natural Gas Inventories

According to the latest report from the Energy Information Administration (EIA), the United States has seen a notable decrease in its natural gas inventories. In the week ending January 17, working natural gas in storage across the nation decreased by 223 billion cubic feet (Bcf), bringing the total down to 2,892 Bcf.

Annual and Historical Comparisons

This decline marks a significant drop of 57 Bcf compared to the same period last year. Despite this decrease, the current stockpiles are still 21 Bcf above the five-year average of 2,871 Bcf, indicating that the total working gas remains within the five-year historical range.