U.S. NatGas Inventory Report, August 24, 2023

The Energy Information Administration released their weekly report today.

The Pacific Region continued to gain inventory, although still below one year ago and 5 year average.

The South Central region shed inventory over the week, yet remains well above year ago and 5 year average.

EIA.GOV, via SNL Energy

Generally speaking, natural gas prices are significantly below one year ago levels, and more in line with pre-covid levels. 

Current price levels suggest consumer inflation in natgas as well as pass through products (electricity) will continue to moderate. These products represent about 3.6% of the average consumer basket.