The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 43 billion cubic feet for the week ending March 24. The amount was in-line with expectations. The withdrawal was also the most since 2014 for the last week of March. Storage operators typically switch from withdrawing from storage to injecting into storage on April 1.
EIA Natural Gas Storage Data:
- Total (03/24/17): 2,049 Bcf
- Total (03/17/17): 2,092 Bcf
- Net change: -43 Bcf
- Implied flow: -43 Bcf
- Year ago stocks: 2,472 Bcf
- % change from year ago: -17.1 %
- 5-year avg stocks: 1,799 Bcf
- % change from 5-year avg: 13.9 %
