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U.S. Enters Winter with Highest Natural Gas Stocks in Eight Years

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Natural Gas News

Gas Prices,Henry Hub,U.S.

U.S. natural gas inventories are higher than average for this time of the year as America has entered the proper winter heating season with stocks at their highest level since 2016

, the Energy Information Administration EIA said on Monday. Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet Bcf, according to estimates based on data from EIA’s Weekly Natural Gas Storage Report. The 2024/2025 winter heating season has now started with the most natural gas since 2016 and working natural gas in storage is currently 6% above the five-year 2019–2023 average, the EIA said.

natural gas inventories ended the previous winter season at the end of March 2024 – the end of withdrawal season – with stocks 25% higher compared to the same time in 2023 and 40% higher than the five-year average for March, as natural gas producers had boosted production in 2023. As a result of the lower natural gas prices due to high inventories and a mild 2023/2024 winter, U.S. natural gas producers curtailed some production in the spring.

 

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