United States Natural Gas Stocks Change

US utilities withdrew 321 billion cubic feet (bcf) of natural gas from storage in the week ending January 24, reducing total inventories to 2,571 bcf. The withdrawal exceeded market expectations of 313 bcf, driven by extreme cold. The sharpest declines occurred in the South Central region (-136 bcf), followed by the Midwest (-83 bcf) and the East (-61 bcf). This was the fourth time on record that weekly withdrawals surpassed 300 bcf, though it remained below the 359 bcf record set during a freezing spell in January 2018. The latest drawdown erased the small gas surplus over the five-year average for the first time since January 2022. Storage levels are now 5.3% lower than the same period last year and 4.1% below the five-year average.