Here are the latest details from the U.S. Energy Information Administration regarding natural gas inventories for the past week.
Working gas in storage was 3,112 Bcf as of Friday, December 23, 2022, according to EIA estimates. This represents a net decrease of 213 Bcf from the previous week. Stocks were 133 Bcf less than last year at this time and 85 Bcf below the five-year average of 3,197 Bcf. At 3,112 Bcf, total working gas is within the five-year historical range.
Temperature drops across the European region led to an increase in demand for natural gas, which in turn put strain on the region's energy infrastructure as prices rose. A rise in price can be attributed to the depletion of natural gas supplies brought on by the increased demand.