Natural Gas Storage: -100 Bcf

Draw came in stronger than expected ahead of the upcoming cold snap.

The U.S. Energy Information Administration reported a weekly withdrawal of 100 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending February 7, 2025 (Link).  Total inventories now stand at 2,297 Bcf, 248Bcf (9.7%) below year-ago levels and 67 Bcf (2.8%) below the 2020-2024 average for the same week. 

This morning’s EIA report showed a net withdrawal of 100 Bcf in U.S. natural gas inventories. This represents the lightest weekly withdrawal since the week ended January 3, and is reflective of relatively low weather-related demand during the report week. The draw still came in much stronger than the same week a year prior, which saw just 60 Bcf removed from storage amid even warmer weather across the U.S., while falling short of the five-year average draw of 144 Bcf for the same week.