Natural Gas Storage: -119 Bcf
Withdrawal comes in larger than historical benchmarks.
The U.S. Energy Information Administration reported a weekly withdrawal of 119 billion cubic feet (Bcf) in Lower 48 natural gas storage inventories for the week ending January 2, 2026 (Link). Total inventories now stand at 3,256 Bcf, 31 Bcf (1.0%) below year-ago levels and 123 Bcf (3.6%) above the 2021-2025 average for the same week.
After posting a minimal draw of 38 Bcf during the previous week, natural gas inventories declined by 119 Bcf for the final week of 2025. The draw came in higher than the five-year average and year-ago benchmarks, which declined by 92 and 51 Bcf, respectively. The same week in 2024 was marked by especially mild weather, which contributed to the reduced withdrawal in the year-ago benchmark. As a result, the deficit to last year swelled to 123 Bcf, which is the widest since August, and the surplus to the five-year average was nearly cut in half, from 58 to 31 Bcf.
