Natural gas in storage increased by 35 billion cubic feet to 3,334 in the Aug. 23 week from 3,299 bcf in the Aug. 16 week. Natural gas in storage rose by 228 bcf or 7.3 percent from 3,106 bcf in the year-ago week. Compared with the 5-year average of 2,973 bcf, natural gas stocks in the latest week were up 361 bcf or 12.1 percent.

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.