United States Natural Gas Stocks Change

US utilities withdrew 125 billion cubic feet of natural gas from storage to lower total stockpiles to 3,622 bcf on the week ending December 13th, in line with market expectations of a 126 bcf decrease. It was a fifth consecutive draw in inventories following an anticipated start to the withdrawal season. Drops in storage were the most pronounced in the Midwest (-48 bcf) and the East (-34 bcf), in line with colder regions of the country. Despite the draw, storage remains 0.6% above the corresponding period of the previous year and 3.8% above its five-year average.