Significant Decline in Natural Gas Inventories

In a recent report released by the Energy Information Administration (EIA), it was disclosed that the United States has experienced a notable decrease in natural gas inventories. Specifically, working natural gas in storage saw a reduction of 100 billion cubic feet (Bcf) for the week ending February 7. This brings the total working gas to 2,297 Bcf.

Year-over-Year and Five-Year Average Comparisons

When compared to the same period last year, the stockpiles have declined by 9.7%, which amounts to a decrease of 248 Bcf. Furthermore, in comparison to the five-year average of 2,364 Bcf, there has been a 2.8% drop, equating to 67 Bcf less. Despite these decreases, the total working gas remains within the five-year historical range, indicating a stable yet fluctuating market.