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U.S. Natural Gas Inventories Down 98 bscf in Week: EIA

M. Ali 4 March, 2021 7:30 pm Commodities, Market Update

Natural gas inventories in the United States decreased by 98 billion cubic feet (bscf) last week, data by the U.S. Energy Information Administration (EIA) showed on Thursday.

The decline in natural gas supplies came below market expectations that pointed to a drop of 137 bscf for the week ending on February 26, a recent poll by S&P Global Platts of market experts showed.

Natural gas stockpiles in the U.S. amount to 1.845 trillion cubic feet (tscf), plunged by 277 bscf on an annual basis, falling by 178 bscf compared with the five-year average.

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