Natural Gas Storage: -11 Bcf

Natural gas storage drawn lower for the second straight week.

The U.S. Energy Information Administration reported a weekly withdrawal of 11 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending November 21, 2025 (Link).  Total inventories now stand at 3,935 Bcf, 32 Bcf (0.8%) below year-ago levels and 160 Bcf (4.2%) above the 2020-2024 average for the same week. 

Storage inventories posted another net withdrawal last week, according to this morning’s EIA report. The 11-Bcf draw worked to improve on the surplus to the five-year average, which declined by 25 Bcf during the same week, and slightly widen the slim deficit to year-ago levels, which were drawn down by 3 Bcf. Inventories overall remain in very comfortable position ahead of the impending ramp up in winter weather, but the market is likely looking at a stretch of robust withdrawals in the weeks ahead.