Natural Gas Storage Report: Week of January 16th

Natural gas storage levels fell -120 Bcf to 3,065 Bcf last week, above expectations of a -90 Bcf draw. Inventory levels are up 4.8% YoY (vs 1.0% YoY last week) and are now up 6.1% compared to the 5-year average (vs 3.4% last week).