US Natural Gas Storage Sees Significant Increase

According to the latest report from the Energy Information Administration (EIA), the United States has witnessed a notable rise in natural gas inventories. For the week ending April 4, working gas storage reached 1,830 billion cubic feet, marking a net increase of 57 billion cubic feet from the previous week.

Year-over-Year Comparison and Historical Context

Despite this increase, gas stocks have decreased by 450 billion cubic feet compared to the same period last year. Furthermore, current levels remain 40 billion cubic feet below the five-year average of 1,870 bcf. However, it's important to note that total working gas stays within the five-year historical range, indicating a stable yet dynamic market.