EIA Natural Gas Storage as of 11/14/25, as reported 11/20/25
* Working gas in storage was 3,946 Bcf as of Friday, November 14, 2025, according to EIA estimates. This represents a net decrease of 14 Bcf from the previous week. Stocks were 23 Bcf less than last year at this time and 146 Bcf above the five-year average of 3,800 Bcf. At 3,946 Bcf, total working gas is within the five-year historical range.
The NYMEX December contract closed at $4.55/MMBtu yesterday, a $0.18/MMBtu increase from Tuesday’s close. This week, December has averaged $4.47/MMBtu, around $0.06/MMBtu below last week’s average of $4.53/MMBtu. It is trading at $4.56/MMBtu, up $0.01/MMBtu from the previous day’s close. Natural gas prices traded lower ahead of today’s EIA storage report, which showed a 14 Bcf withdrawal, close to expectations for the first draw of the season in the 12 to 15 Bcf range. The modest pull underscores a market still well supplied. L48 production remains elevated at 107.5–107.6 Bcf/d, with higher Haynesville volumes offsetting weaker Permian output and keeping supply roughly 6 Bcf/d above year-ago levels. LNG feedgas demand is strong near 18 Bcf/d, and with CC Stage 3 estimated to be taking in 0.8-1.0 Bcf/d, total effective feedgas intake continues to hover near record territory. Res/Comm demand is soft in the near term amid warmer-than-normal conditions across the East and Central U.S., though a significant cold front moving into the NE and MW by mid-next week is expected to drive a notable increase in heating loads. However, the latest weather model runs continue to strip HDDs from the back half of the forecast, with warmth re-emerging across the South and Mid-Atlantic in the 11-15 day window. While early December cold remains a supportive factor, robust production, mixed weather signals, and easing power burns have limited near-term upside, keeping the December contract trading in the mid-$4/MMBtu range as the market waits for clearer confirmation of sustained early winter demand.
*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
