EIA Weekly Natural Gas Storage Report
An unexpectedly small storage injection announced today by EIA sent gas prices sharply higher. Expectations were for a 15-20 BCF increase in supplies, and a 4 BCF injection was announced. This brings total working gas in storage to 826 BCF, and marks the end of the winter withdrawal season. Storage remains 997 BCF below the 5 year average going into injection season.
Regionally, the East continued in withdrawal mode at -5, leaving it at a massive 448 BCF below the 5 year average.
The West held flat this week at 160 BCF, which was 137 BCF below the 5 year average.
The Producing region saw a 9 BCF injection, all in salt-dome facilities, and it stands 411 BCF below the 5 year average.
