Natural Gas Storage: -174 Bcf

Storage draw came in much lighter than the previous three weeks.

The U.S. Energy Information Administration reported a weekly withdrawal of 174 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending January 31, 2025 (Link).  Total inventories now stand at 2,397 Bcf, 208 Bcf (8.0%) below year-ago levels and 111 Bcf (4.4%) above the 2020-2024 average for the same week. 

Today’s announced storage draw of 174 Bcf reflects the significant decline in weather-related demand during the final week of January. The draw fell exactly in line with the five-year average for the same week and was stronger than the 110-Bcf deduction reported for the same week a year prior, which featured exceptionally mild weather. The deficit to year-ago storage levels ballooned to 208 Bcf, which is the widest since December 2022.