Colder-than-usual weather in January and high LNG exports reduced U.S. working natural gas storage levels to below the five-year average again, after one of the warmest Decembers on record had boosted inventories to above the five-year average last month, the Energy Information Administration said on Monday. The winter heating season began on November 1, with natural gas in storage at 3 percent below the previous five-year average. Then, due to a mild December, Lower 48 working natural gas in storage surpassed its five-year average in the middle of last month. However, colder-than-usual temperatures in early January pushed demand higher, and high liquefied natural gas (LNG) exports also contributed to a tighter market in recent weeks. As of January 21, natural gas in storage was 25 Bcf, or 1 percent, less than its previous five-year (2017–2021) average for the week, the EIA said in its latest Weekly Natural Gas Storage […]