US Natural Gas Storage Levels Drop

According to the latest report from the Energy Information Administration (EIA), the United States has witnessed a notable decrease in its natural gas inventories. As of the week ending February 21, the working gas in storage was recorded at 1,840 billion cubic feet (Bcf).

This figure represents a net decrease of 261 Bcf from the previous week, signaling a significant shift in the natural gas market dynamics.

Annual and Five-Year Comparisons

On an annual basis, the drop is even more pronounced, with natural gas stockpiles falling by 561 Bcf. Furthermore, the current levels are 238 Bcf below the five-year average of 2,078 Bcf. Despite this, the total working gas remains within the five-year historical range, indicating that while the decrease is substantial, it is not unprecedented.