Natural gas stocks in storage in the United States rose by 107 billion cubic feet (Bcf) for the week ending April 25, according to a May 1 update from the Energy Information Administration (EIA).
This is the highest weekly gas stockpile addition in nearly two years. A buildup in gas inventories can happen due to several factors such as an increase in production or a decline in demand.
In a May 2 post, ING Bank attributed the “bigger-than-average increase” in the recent week’s gas stocks mostly to “mild spring weather curbing demand.”
The high stockpile addition comes as an April 17 report from the EIA had said that natural gas production remained flat in 2024….