U.S. utilities likely withdrew 96 billion cubic feet (bcf) of natural gas from storage last week, about average for this time of year, a poll of analysts showed on Wednesday.
That compared with a year-earlier decline of 55 bcf and a five-year average decrease of 97 bcf for the corresponding period. In the prior week ended March 2, utilities pulled 57 bcf out of storage.
If correct, total stocks would fall to 1.529 trillion cubic feet (tcf), the lowest amount of gas in storage since 2015. That would put inventories about 32 percent below the level in the same week a year ago and 16 percent below the five-year average.
"
Early estimates for the week ending March 16 ranged from withdrawals of 80 bcf to 101 bcf, with an average decline of 91 bcf. That compares with a decline of 137 bcf for the same week last year and a five-year average decline for the week of 53 bcf.
"
See a recap of previous weeks EIA storage reports here.
EIA Natural Gas Storage Report 03-15-18
The EIA reported on Thursday that natural gas storage in the U.S. fell by 93 billion cubic feet (Bcf) in the week-ended March 9. This was slightly below the estimate of 96 Bcf. That compared with a draw of 57 Bcf the week-ending March 2 and represented a drop of 718 billion from a year earlier and was also 296 Bcf below the five-year average.
"
After the release of the report, total U.S. natural gas in storage stood at 1.532 trillion cubic feet (Tcf), 31.9% lower than levels at this time a year ago and also 16.2% below the five-year average for this time of year.
"
Have you reviewed your energy plan and locked in your Energy rates?
You can start ( here ).
Review a recap of previous weeks EIA Natural Gas inventory Reports.
Live market data