Total gas supplies are at 1.773 Tcf, more than 21% below last year’s levels and about 4% below the average over the last five years. (Source: Shutterstock)
Warm weather continued to boost the nation’s natural gas supply in storage, the U.S. Energy Information Administration (EIA) said in its weekly report.
In an analysis, East Daley Analytics noted that the U.S. is likely to see a healthy injection season over the spring, as moderate temperatures cut the need for heating but don’t raise the power demands for air conditioning.
The lower 48 U.S. states added 29 Bcf of natural gas to storage for the week ending March 28, slightly higher than market expectations between 25 Bcf to 27 Bcf. The EIA released the report on April 3.
Total gas supplies are at 1.773 Tcf, more than 21% below last year’s levels and about 4% below the average over the last five years.
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