The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stockpiles decreased by 36 billion cubic feet for the week ending March 22.
Analysts were expecting a storage withdrawal of around 43 billion cubic feet. The five-year average for the week is a withdrawal of 41 billion cubic feet, and last year’s withdrawal totaled 66 billion cubic feet. Natural gas inventories fell by 47 billion cubic feet in the week ending March 15.
Natural gas futures for May delivery traded up less than a penny in advance of the EIA’s report, at around $ 2.71 per million BTUs, and traded essentially flat shortly after the ann…
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