Natural Gas Market Experiences Record-Low Withdrawals and Mixed Trading Results.
The South Central natural gas storage in the United States saw record-low cumulative gas withdrawals from underground storage this winter season, due to warmer weather and higher natural gas production in Texas and Louisiana. Natural gas withdrawals from the South Central region stood at 233 billion cubic feet between early November 2022 and the week ending March 2023, the EIA said. As a result, natural gas consumption in the residential and commercial sectors in the South Central storage region was 13% below the five-year average this winter heating season.