EIA Natural Gas Storage as of 10/24/25, as reported 10/30/25
*Working gas in storage was 3,882 Bcf as of Friday, October 24, 2025, according to EIA estimates. This represents a net increase of 74 Bcf from the previous week. Stocks were 29 Bcf higher than last year at this time and 171 Bcf above the five-year average of 3,711 Bcf. At 3,882 Bcf, total working gas is within the five-year historical range.
The NYMEX November contract expired at $3.38/MMBtu yesterday. This week, December has averaged $3.89/MMBtu, around $0.15/MMBtu below last week’s average of $4.04/MMBtu. It is trading at $3.88/MMBtu, up $0.07/MMBtu from the previous day’s close. Natural gas prices firmed slightly following today’s EIA storage report, which showed a 74 Bcf injection, broadly in line with expectations in the 71–75 Bcf range. The near-average build was largely anticipated, as mild national temperatures and ample supply continue to keep the market comfortably balanced. L48 production rose to 106 Bcf/d, up from 104.9 Bcf/d yesterday, with steady gains across the Permian, Haynesville, and Rockies. Output remains roughly 5 Bcf/d higher year-over-year, and volumes should hold near current levels as REX maintenance concludes. LNG feedgas nominations are strong at 17.2 Bcf/d, with flows to Sabine above 5 Bcf/d and Calcasieu near 1.5 Bcf/d, while activity at Cameron Train 1 appears to be resuming after partial outages earlier in the week. Residential and commercial demand has eased slightly amid milder weather in the East, though increased heating loads in the South and Midwest have offered partial support. Power burns have remained resilient, outpacing expectations as gas-fired generation continues to play a larger role in meeting early-season heating needs. With LNG demand near record highs and above-average storage heading into November, prices remain range-bound in the upper-$3/MMBtu area as traders await stronger heating demand signals to shift sentiment decisively.
*Source: U.S. Energy Information Administration (EIA) Weekly Natural Gas Storage Report
Working Gas in Underground Storage, Lower 48
Working Gas in Underground Storage vs. 5-Year Maximum and Minimum
Current Market
