Natural Gas Storage: +120 Bcf

EIA announces the fifth largest weekly build since 2010.

The U.S. Energy Information Administration reported a weekly injection of 120 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending May 16, 2025 (Link).  Total inventories now stand at 2,375 Bcf, 333 Bcf (12.3%) below year-ago levels and 90 Bcf (3.9%) above the 2020-2024 average for the same week. 

Last week saw another outsized build into natural gas storage inventories. The EIA reported a 120-Bcf net addition during the week ended May 16, marking the fourth consecutive week to see a triple-digit build and continuing to claw back the deficit to year-ago storage levels. The reported injection was the largest since October 2022 and tied for the fifth largest weekly storage addition since 2010. Injections continue to outperform historical benchmarks, with the addition eclipsing the 87-Bcf build in the five-year average and the 78-Bcf build for the same week in 2024. At 333 Bcf, the deficit to year-ago levels is the narrowest since early February, while the 90-Bcf surplus to the five-year average is the strongest since the start of 2025.