EIA’s Natural Gas Weekly Update from April 14th reported that withdrawals this winter from underground storage facilities in the Lower 48 states were 10.6% above the five-year average (2016-20) leaving inventories at 1.778 Tcf as of March 31st, 2021. At the start of the heating season on November 1st, storage levels exceeded the five-year average by 178 Bcf with that surplus growing throughout December to +285 Bcf. A sustained cold snap from late January to mid-February contributed to high residential and commercial sector demand which helped flip the market from a surplus to a deficit. Total withdrawals from February 2021 alone were -778 Bcf, the largest draw for any February since 2011, and represented 38% of all withdrawals from storage this winter. The market is now in its first deficit since 2019. Follow the link below to read more.