Bentek estimates that the average daily natural gas supply for this report week increased modestly by 0.5 percent over the previous week’s daily average. Dry natural gas production and imports from Canada increased by 0.4 percent and 3.3 percent, respectively, from the previous week.
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Working natural gas in storage decreased to 1,938 Bcf as of Friday, March 8, according to EIA's WNGSR. This represents an implied net withdrawal of 145 Bcf from the previous week. This week's net withdrawal was 71 Bcf larger than the 5-year average net withdrawal of 74 Bcf, and 79 Bcf larger than last year's average net withdrawal of 66 Bcf. Inventories are currently 440 Bcf (18.5 percent) less than last year at this time and 198 Bcf (11.4 percent) greater than the 5-year average of 1,740 Bcf.
All three storage regions posted declines this week. Inventories in the East, West, and Producing regions decreased by 92 Bcf (the 5-year average net withdrawal is 57 Bcf), 5 Bcf (the 5-year average net withdrawal is 7 Bcf), and 48 Bcf (the 5-year average net withdrawal is 10 Bcf), respectively. In the Producing region, working natural gas inventories decreased 15 Bcf (7.9 percent) in salt cavern facilities and decreased 33 Bcf (5.3 percent) in nonsalt cavern facilities.
Temperatures in the Lower 48 states averaged 38.0 degrees, compared to 44.4 degrees last year and the 30-year normal of 41.3 degrees. While overall temperatures were a few degrees cooler than normal, temperatures varied somewhat across Census divisions. In the South, the East South Central and South Atlantic Census divisions were particularly cool, averaging 9.1 and 8.0 degrees cooler, respectively, than the 30-year normal. In the Northeast, the New England Census division was relatively warm, averaging 2.6 degrees warmer than the 30-year normal. Heating degree-days nationwide were 11.8 percent above normal and 27.7 percent above last year.
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