Significant Drop in US Natural Gas Inventories

In a revealing update from the Energy Information Administration (EIA), the United States has witnessed a notable decrease in its natural gas inventories. For the week ending February 7, working natural gas in storage saw a reduction of 100 billion cubic feet (Bcf), bringing the total to 2,297 Bcf.

Year-on-Year and Five-Year Average Comparisons

This decline represents a 9.7% or 248 Bcf drop from the same period last year. Furthermore, when compared to the five-year average of 2,364 Bcf, the current figures show a 2.8% or 67 Bcf decrease. Despite these shifts, the total working gas remains within the expected five-year historical range, indicating a resilient yet fluctuating market.