Thursday’s storage report from the Energy Information Administration outlined a bullish net 2 Bcf injection to stocks for the week ended March 31, a typical amount for the final week of the withdrawal season. Total working gas stocks were brought to 2,051 Bcf, or 427 Bcf below the year-ago level and 265 Bcf above the five-year average. Market consensus had been a 7-10 Bcf injection.
EIA Natural Gas Storage Data:
- Total (03/31/17): 2,051 Bcf
- Total (03/24/17): 2,049 Bcf
- Net change: 2 Bcf
- Implied flow: 2 Bcf
- Year ago stocks: 2,478 Bcf
- % change from year ago: -17.2 %
- 5-year avg stocks: 1,786 Bcf
- % change from 5-year avg: 14.8 %
