U.S. natural gas storage. (Source: Shutterstock)
The U.S. Energy Information Administration (EIA) reported that the nation’s natural gas storage levels for the week ending Dec. 20 fell by 93 Bcf from the week before to a total of approximately 3.53 Tcf in storage.
Stocks of natural gas are currently 166 Bcf above the EIA’s five-year average and 14 Bcf above last year’s total.
Meanwhile, during the last full week of 2024, natural gas front-month futures at the Henry Hub remained at the highest levels in two years. During early trading, the Henry Hub price had fallen $0.04 to $3.68/MMBtu.
Henry Hub prices have been at or above $3.50/MMBtu since mid-December.
The EIA released the data on Dec. 27, a Friday, instead of the usual Thursday because of the Christmas holiday.
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