US: EIA Natural Gas Report

Thu May 24 09:30:00 CDT 2018

Actual Previous
Weekly Change 91bcf 106bcf

Natural gas in storage rose 91 billion cubic feet in the May 18 week to 1,629 bcf. The fourth consecutive weekly build since the delayed start of the injection season was larger than the 75 bcf increase last year but marginally below the 92 bcf average build over the last 5 years in the comparable week. Gas stocks remained within the 5-year historical range for this time of year but were 33.0 percent below last year's level and 23.4 percent below the 5-year average for the period.

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.