BREAKING: EIA data shows larger drop in gas stocks than expected

• US, gas inventory change. Currently: - 87 bcf. Expected change: -80 bcf. Previous: -55 bcf

NATGAS prices reacted with a slight increase shortly after the reading of the EIA report.

As of Friday, December 15, 2023, working gas in storage was reported at 3,577 billion cubic feet (Bcf) by the Energy Information Administration (EIA), marking a net decrease of 87 Bcf from the previous week. Despite this decline, current stocks are 240 Bcf higher than the same time last year and 280 Bcf above the five-year average of 3,297 Bcf. The total working gas remains within the five-year historical range, indicating a relatively stable supply compared to historical standards.