Natural Gas Storage: -167 Bcf

Another outsized withdrawal reflects lingering cold.

The U.S. Energy Information Administration reported a weekly withdrawal of 167 billion cubic feet (Bcf) in Lower 48 natural gas storage inventories for the week ending December 12, 2025 (Link).  Total inventories now stand at 3,579 Bcf, 61 Bcf (1.7%) below year-ago levels and 32 Bcf (0.9%) above the 2020-2024 average for the same week. 

Natural gas inventories posted another relatively large decline for the second week of December. The 167-Bcf draw was larger than historical benchmarks, expanding the deficit to year-ago levels to 61 Bcf while narrowing the surplus to the five-year average to just 32 Bcf. Based on early expectations for next week’s report, inventories have a strong chance of falling behind the five-year average. Stocks are already behind that benchmark in the East and Midwest, which have felt the most impact of the early-season cold.