Weekly Natural Gas Storage Update

In a recent report released by the Energy Information Administration (EIA), the United States has observed a notable increase in natural gas storage. The week ending April 11 saw a rise of 16 billion cubic feet (Bcf), bringing the total working gas storage to 1,846 Bcf.

Year-over-Year Comparison

Despite this weekly gain, the current stocks are 480 Bcf lower compared to the same period last year. Additionally, the figures remain 74 Bcf below the five-year average of 1,920 Bcf, indicating a tighter supply scenario in the market.

Historical Context

However, it's noteworthy that the total working gas levels are still within the five-year historical range, suggesting a balanced market condition despite the fluctuations.