EIA Natural Gas Storage as of 10/31/25, as reported 11/06/25
*Working gas in storage was 3,915 Bcf as of Friday, October 31, 2025, according to EIA estimates. This represents a net increase of 33 Bcf from the previous week. Stocks were 6 Bcf less than last year at this time and 162 Bcf above the five-year average of 3,753 Bcf. At 3,915 Bcf, total working gas is within the five-year historical range.
The NYMEX December contract closed at $4.232/MMBtu yesterday, a $0.11/MMBtu decrease from Tuesday’s close. This week, December has averaged $4.29/MMBtu, around $0.34/MMBtu above last week’s average of $3.95/MMBtu. It is trading at $4.33/MMBtu, up $0.10/MMBtu from the previous day’s close. Natural gas prices consolidated recent gains following today’s EIA storage report, which showed a 33 Bcf injection, in line with expectations in the 31–34 Bcf range. The balanced build offered modest support as traders weighed tightening short-term fundamentals against strong production and healthy inventories. Storage levels rose to 3,915 Bcf, maintaining a comfortable surplus to the five-year average and underscoring the market’s well-supplied position entering November. L48 production was revised higher to 107.4 Bcf/d yesterday on intraday gains across the Permian and Northeast, while today’s early-cycle print holds near 107 Bcf/d. Haynesville volumes continue to climb toward early October levels, reinforcing record-high output. LNG feedgas nominations remain strong at 17.5 Bcf/d, with higher flows to Corpus Christi partially offset by lower volumes at Sabine, while Plaquemines continues to operate near 3.9 Bcf/d with all 18 blocks in service. Residential and commercial demand has increased as colder-than-normal temperatures expand across the East and Midwest, with forecasts calling for a 40% jump in early-week heating loads. Despite strengthening demand signals, robust supply and above-average storage continue to anchor prices within a stable range, with the December contract hovering near $4.30/MMBtu as traders await confirmation of sustained cold into mid-November.
*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
