Working natural gas in storage reached a record high of 4,017 billion cubic feet (Bcf) as of November 4, according to EIA’s latest Weekly Natural Gas Storage Report. Inventories have been relatively high throughout the year, surpassing previous five-year highs in 48 of the past 52 weeks.
Declining natural gas production and strong demand from the power sector were offset by a warmer-than-usual winter, which left natural gas inventories in April (the beginning of the 2016 injection season) above the previous five-year maximum.
