Natural Gas Storage: +110 Bcf

Inventories continue to make up ground on year-ago levels.

The U.S. Energy Information Administration reported a weekly injection of 110 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending May 9, 2025 (Link).  Total inventories now stand at 2,255 Bcf, 375 Bcf (14.3%) below year-ago levels and 57 Bcf (2.6%) above the 2020-2024 average for the same week. 

The streak of strong storage injections continued last week, as 110 Bcf was added to underground inventories. The build came in stronger than the five-year average and year-ago additions, which totaled 83 and 73 Bcf, respectively. As a result, the small surplus to the five-year average edged higher while the deficit to year-ago levels was cut to its narrowest since mid-February. Since the beginning of April, inventories have grown 3.3 Bcf per day faster than the five-year average and 2.8 Bcf faster than the same period in 2024.