EIA Natural Gas Storage as of 10/17/25, as reported 10/23/25
* Working gas in storage was 3,808 Bcf as of Friday, October 17, 2025, according to EIA estimates. This represents a net increase of 87 Bcf from the previous week. Stocks were 34 Bcf higher than last year at this time and 164 Bcf above the five-year average of 3,644 Bcf. At 3,808 Bcf, total working gas is within the five-year historical range.
The NYMEX November contract closed at $3.45/MMBtu yesterday, a $0.02/MMBtu decrease from Tuesday’s close. This week, November has averaged $3.44/MMBtu, around $0.42/MMBtu above last week’s average of $3.02/MMBtu. It is trading at $3.45/MMBtu, in line with the previous day’s close. Natural gas prices eased following today’s EIA storage report, which showed an 87 Bcf injection, topping expectations in the 80–83 Bcf range and widening the surplus to both last year and the five-year average. The larger-than-expected build signaled a looser supply/demand balance and pressured futures, with the November contract sliding roughly 6¢ to trade near $3.38/MMBtu following the report. L48 production was revised higher to 106.5 Bcf/d, with modest intraday gains across the Permian, Haynesville, Rockies, and Marcellus. Output is expected to remain elevated as REX maintenance concludes this weekend, allowing volumes in the Rockies to rebound. LNG feedgas nominations are firm near 17.1 Bcf/d, with Freeport flows recovering to 1.9 Bcf/d and overall terminal utilization strong. Residential and commercial demand has strengthened with cooler temperatures in the East and MW, though warmer-than-normal conditions across the South Central and Rockies continue to moderate total U.S. gas burns. Meteorologists note that October has been broadly mild, but early November forecasts point to a cooler pattern in the East and Southeast, which could tighten balances modestly. With the injection season nearing its end and storage hovering near 3.8 Tcf, the market remains well supplied, keeping near-term price action contained below $3.50/MMBtu despite early signs of rising heating 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
