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US: EIA Natural Gas Report
| Actual | Previous | |
| Week over Week | 33bcf | 28bcf |
Highlights
Natural gas in storage rises by 33 billion cubic feet to 3,117 billion cubic feet in the July 31 week from 3,084 billion in the previous week. Natural gas in storage is down 12 bcf or 0.4 percent from the year-ago week. Compared against the 5-year average of 2,922, natural gas stocks in the latest week are up 195 billion or 6.7 percent.
Definition
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.
Description
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.