US Natural Gas Storage Sees Major Weekly Drop

The Energy Information Administration (EIA) has reported a notable decrease in the United States' natural gas inventories, with a net drop of 261 billion cubic feet (Bcf) for the week ending February 21. This significant reduction brings the total working gas in storage down to 1,840 Bcf.

Comparing year-over-year figures, the natural gas stockpiles have declined by 561 Bcf. Additionally, the current levels are 238 Bcf below the five-year average of 2,078 Bcf, although they still remain within the historical range for this time of year.