This week’s Energy Information Agency natural gas storage report is out and the continuity in the natural gas industry progresses. Storage is up to 3,006 billion cubic feet — a gain of 65 Bcf from last week. However, stocks were 252 Bcf less than at this time last year, though still above the 5-year average of 2,963 Bcf. With the industry’s total 3,006 Bcf they are still within the 5-year historical range, according to the EIA.
Here’s a look at the 5-year chart for natural gas storage.
Natural gas prices continue to trend downwards for the year despite being up consistently since 2012. The increase in prices has contributed to a demand slump, according to the EIA, as the Henry Hub spot price is up 63 percent from last year to $3.92 per MMBtu. Cooler temperatures so far this year has also worked to curb demand as well, the EIA notes.
Here’s a look at the trend in prices.