Weekly Natural Gas Inventory Update

The Energy Information Administration (EIA) has reported a notable increase in working natural gas storage across the United States, with a rise of 37 billion cubic feet (Bcf) for the week ending March 21. This adjustment brings the total storage to 1,744 Bcf, as detailed in the latest EIA report released on Thursday.

Comparative Analysis Shows Yearly Decrease

Despite the weekly uptick, the figures reveal a significant decrease of 557 Bcf when compared to the same period last year. Furthermore, current stocks are 122 Bcf below the five-year average of 1,866 Bcf, indicating a tighter supply situation relative to recent historical norms.

Storage Levels Within Historical Range

It's important to note, however, that the total working gas storage levels remain within the five-year average range, suggesting a balanced market condition despite the observed fluctuations.