EIA - Natural Gas Storage Report - May 25
Posted: Thu May 25, 2023 11:34 am
Working gas in storage was 2,336 Bcf as of Friday, May 19, 2023, according to EIA estimates.
This represents a net increase of 96 Bcf from the previous week.
Stocks were 529 Bcf higher than last year at this time and 340 Bcf above the five-year average of 1,996 Bcf.
At 2,336 Bcf, total working gas is within the five-year historical range.
Over the last four weeks the surplus to the 5-year average has actually decreased by 32 Bcf. Market forces (primarily the reduction in drilling for and completing gas wells) to tighten up the U.S. natural gas market.
Keep in mind that the largest storage builds of the year always occur in May.
This represents a net increase of 96 Bcf from the previous week.
Stocks were 529 Bcf higher than last year at this time and 340 Bcf above the five-year average of 1,996 Bcf.
At 2,336 Bcf, total working gas is within the five-year historical range.
Over the last four weeks the surplus to the 5-year average has actually decreased by 32 Bcf. Market forces (primarily the reduction in drilling for and completing gas wells) to tighten up the U.S. natural gas market.
Keep in mind that the largest storage builds of the year always occur in May.