US: EIA Natural Gas Report

Thu Feb 15 09:30:00 CST 2018

Actual Previous
Weekly Change -194bcf -119bcf

Natural gas in storage fell 194 billion cubic feet in the February 9 week to 1,884 bcf. The thirteenth weekly drawdown of the heating season exceeded both the 114 bcf draw in the comparable week last year and the 159 bcf average decline for the week over the last five years. Though gas stocks remained within the 5-year historical range for the period, they were down 23.4 percent year-on-year and 18.7 percent below the 5-year average for this time of year.

The Energy Information Administration (EIA) provides weekly information on natural gas stocks in underground storage for the U.S. and five regions of the country. The level of inventories helps determine prices for natural gas products.

Natural gas product prices are determined by supply and demand - just like any other good and service. During periods of strong economic growth, one would expect demand to be robust. If inventories are low, this may lead to increases in natural gas prices. If inventories are high and rising in a period of strong demand, prices may not need to increase at all, or as much. During a period of sluggish economic activity, demand for natural gas may not be as strong. If inventories are rising, this may push down natural gas prices.