Natural gas in storage decreased by a large 30 billion cubic feet to 3,937 in the Nov. 29 week from 3,967 bcf in the Nov. 22 week as the injection season ended with a bang and cold weather strikes much of North America. Natural gas in storage rose by 185 bcf or 4.9 percent from 3,752 bcf in the year-ago week. Compared with the 5-year average of 3,653 bcf, natural gas stocks in the latest week were up 284 bcf or 7.8 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.