US Natural Gas Stocks Fall More than Expected: EIA

US utilities pulled 140 billion cubic feet of natural gas from storages during the week that ended January 5, 2024, above market expectations of a 119 bcf draw. That compares with a withdrawal of 23 bcf in the same week last year and a five-year (2019-2023) average decline of 89 bcf. Last week’s decrease cut stockpiles to 3.336 trillion cubic feet (tcf), 436 bcf higher than last year at this time and 348 bcf above the five-year average of 2.988 tcf. At 3.336 tcf, total working gas is above the five-year historical range.

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