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Working natural gas storage stocks for the Lower 48 states show largest weekly net decline in two years

From eia.gov

This week's net withdrawals from underground natural gas storage facilities were the largest net withdrawals reported in two years, exceeding the five-year average net withdrawals for the week by 95 billion cubic feet (Bcf). Net natural gas withdrawals from storage facilities totaled 237 Bcf for the week ending February 12, 2021. This week’s storage activity matched the 12th-highest value on record since 2010. Temperatures that were as much as 20 degrees Fahrenheit below normal contributed to increased space heating demand for natural gas, resulting in the large withdrawals from working natural gas storage during the ... (full story)

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  • Category: Fundamental Analysis