Natural Gas Storage: +16 Bcf

Lighter build reflects tighter fundamental balance during the report week.

The U.S. Energy Information Administration reported a weekly injection of 16 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending April 11, 2025 (Link).  Total inventories now stand at 1,846 Bcf, 480 Bcf (20.6%) below year-ago levels and 74 Bcf (3.9%) below the 2020-2024 average for the same week. 

The pace of storage injections slowed down during the second week of April, as just 16 Bcf was added to underground inventories. The build was lighter than the additions for the previous three weeks as market fundamentals tighted in response to unseasonable cold during the recent report week. This also represents the first report since early March that saw a widening of the deficit to last year and the five-year average. Those benchmarks increased by 46 and 50 Bcf, respectively during the corresponding week. Despite this narrowing, the storage deficits remain much narrower than it was prior to the streak of early storage injections.