Significant Weekly Growth in Natural Gas Inventories

The Energy Information Administration (EIA) reported a notable increase in the United States' working natural gas storage, which rose by 104 billion cubic feet (Bcf) in the week ending May 2. This surge brings the total storage to 2,145 Bcf, marking a significant moment for energy market observers.

Annual and Historical Perspectives

Despite the weekly uptick, the annual comparison shows a decrease of 412 Bcf. However, the current stockpiles stand 30 Bcf above the five-year average of 2,115 Bcf, indicating a robust position within the historical range.