Natural Gas Storage: +101 Bcf

Another build of 100+ Bcf further trims the deficit to year-ago levels.

The U.S. Energy Information Administration reported a weekly injection of 101 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending May 23, 2025 (Link).  Total inventories now stand at 2,479 Bcf, 316 Bcf (11.3%) below year-ago levels and 93 Bcf (3.9%) above the 2020-2024 average for the same week. 

Today’s announced storage build of 101 Bcf marked the fifth consecutive report that showed an injection exceeding 100 Bcf. Weekly additions to inventories continued to outpace historical benchmarks, adding 3 Bcf to the surplus to the five-year average, while cutting 17 Bcf off the deficit to 2024. Since inventories were at their nadir relative to historical levels in early March, mild temperature patterns and strong production have helped fuel an impressive recovery during the spring shoulder season.