Inventories declined by about 9 billion cubic feet in the seven days ending Oct. 27. That`s unusual because normally at this time of year inventories of natural gas are rising, the department said.
However, despite that decline, the nation`s supply of natural gas is about 9 percent above its five-year average.
Further, current natural gas inventories exceeded last year`s level by 288 billion cubic feet and the five-year average by about 276 billion cubic feet.
'This is the earliest weekly withdrawal approaching the heating season since 1994 when the weekly data series began,' the Energy Department said in a statement. 'The only other instance of a withdrawal in October was reported for the week ending October 31, 1997. Unusually colder-than-normal temperatures that prevailed during the report week in large sections of the country likely contributed to the withdrawal from working gas stocks as the unseasonably cool temperatures would have increased heating demand for natural gas.'
