US Natural Gas stockpile Bearish Catalyst for Natural Gas.

The EIA (U.S. Energy Information Administration) released its weekly natural gas inventory report on March 16, 2017. It reported that US natural gas inventories fell by 53 Bcf (billion cubic feet) to 2,242 Bcf from March 3–10, 2017.However, US natural gas inventories hit 4,047 Bcf for the week ending November 11, 2016—the highest level ever. Changes in inventories impact natural gas (DGAZ) (UNG) (GASL) prices. For more on natural gas prices and the weather, read Part 1 and Part 2 of this series.
A Wall Street Journal survey estimated that US natural gas inventories would have fallen by 59 Bcf from March 3–10, 2017. Natural gas (UGAZ) (FCG) prices fell on March 16, 2017, due to a less-than-expected draw in natural gas inventories. For more on prices, read Part 1 of this series.The five-year average natural gas withdrawal for this period is 85 Bcf. Natural gas inventories fell by 9 Bcf during the same period in 2016. They fell by 68 Bcf in the week ending March 3, 2017.What’s the impact? 
For the week ending March 10, 2017, US natural gas inventories are 21.4% higher than their five-year average. High inventories could pressure natural gas prices. US natural gas inventories are the biggest bearish driver of natural gas prices after production. However, cold weather could drive prices in the short term. For more on the weather, read the previous parts of the series.Moves in natural gas prices impact oil and gas producers’ profitability such as Southwestern Energy (SWN), Antero Resources (AR), Range Resources (RRC), and Cabot Oil & Gas (COG).