Here are the latest details from the U.S. Energy Information Administration regarding natural gas inventories for the past week.
On Thursday, natural gas futures fell over 4% to close at 3.38, an 18-month low. Working gas in storage was 2,820 Bcf as of Friday, January 13, 2023, according to EIA estimates. This represents a net decrease of 82 Bcf from the previous week. Stocks were 19 Bcf less than last year at this time, and 34 Bcf above the five-year average of 2,786 Bcf.
At 2,820 Bcf, total working gas is within the five-year historical range. According to analysts, utilities drew less gas from storage than typical last week since the weather was warmer than usual, keeping heating demand low.
Source: ir.eia.gov.
