The U.S. Energy Information Administration released it's natural gas inventory data for the week ending January 8 and inventories are showing a greater than expected decline.
U.S. natural gas inventories declined 266 Bcf from the previous week. Analysts had forecast a draw of 253-258 billion cubic feet.
The current natural gas inventory is 4.4% above the five-year average of about 2.73 TCF and 3.7% above 2009's storage level of roughly 2.75 TCF.
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