The U.S. Energy Information Administration reported a weekly injection of 23 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending July 18, 2025 (Link). Total inventories now stand at 3,075 Bcf, 153 Bcf (4.7%) below year-ago levels and 171 Bcf (5.9%) above the 2020-2024 average for the same week.
Storage injections were greatly reduced last week, according to today’s EIA report that showed a 23-Bcf build into underground inventories. This represents the smallest injection of the traditional season so far and reflects warming conditions across a widespread swath of the U.S. that promoted increased air conditioning demand. The build came during a week where injections are typically nearing their low point for the middle of the summer, with the build falling just 7 Bcf shy of the five-year average for the same week and still outpacing the year-ago benchmark by 3 Bcf. The deficit to last year’s storage levels is now just 153 Bcf, which is the narrowest since January.
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