FX.co ★ US Natural Gas Stocks Fall More than Expected

US energy companies withdrew 54 billion cubic feet (bcf) of natural gas from storage in the week ended March 20, surpassing market expectations for a 44 bcf draw. By contrast, the same week a year earlier saw a 33 bcf injection, and the five-year average for this period is a 21 bcf decline. Total inventories slipped to 1.829 trillion cubic feet, leaving stockpiles about 5.2% above levels a year ago and roughly 0.8% above the five-year average. A week earlier, utilities had added 35 bcf to storage.