Natural Gas Storage: -132 Bcf
Brief cold snap yields stronger-than-average storage draw.
The U.S. Energy Information Administration reported a weekly withdrawal of 132 billion cubic feet (Bcf) in Lower 48 natural gas storage inventories for the week ending February 27, 2026 (Link). Total inventories now stand at 1,886 Bcf, 115 Bcf (6.5%) above year-ago levels and 43 Bcf (2.2%) below the 2021-2025 average for the same week.
The final week of February saw a brief return to stronger-than-normal storage draws. After the lightest February withdrawal in nearly a decade the week prior, the EIA reported a 132-Bcf pull from inventories that exceeded both the five-year average and the year-ago draw. As a result, the surplus to 2025 narrowed while the slim deficit to the five-year average widened. Despite the relatively strong withdrawal, this does not materially change the overall inventory situation, particularly with temperature forecasts pointing toward a mild March and the potential for early net injections.
