Mubasher: US natural gas stockpiles declined last week, according to data released by Energy Information Administration (EIA) on Thursday.

Natural gas inventories reached 1,299 billion cubic feet (Bcf) for the week ended 13 April, registering a net drop of 36 Bcf compared to the previous week.

On a year-on-year basis, stockpiles fell to 808 Bcf, while they were below the five-year average of 1,748 Bcf, the EIA’s report showed.

“Some natural gas storage operators have reported net withdrawals from base gas, beginning with the week ending 6 April 2018. The cumulative net withdrawals of base gas were treated as negative working gas stocks and are reflected in the working gas inventories,” the report stated.

This resulted in a small portion of reported net change including flows from base gas, the EIA concluded.

By 2:57 pm GMT, natural gas prices shed 0.22% to $2.73 per million British Thermal Units (MMBtu).