Natural Gas Storage: +32 Bcf
Storage injections continued to trend lower on stronger power burn.
The U.S. Energy Information Administration reported a weekly injection of 32 billion cubic feet (Bcf) into Lower 48 natural gas storage inventories for the week ending July 17, 2026 (Link). Total inventories now stand at 3,056 Bcf, 16 Bcf (0.5%) below year-ago levels and 183 Bcf (6.4%) above the 2021-2025 average for the same week.
This morning’s storage report showed the smallest build since the early stages of the injection season, as cooling demand continues to ramp up seasonally and limit the volume of gas available for injection. The 32-Bcf injection marginally outpaced both the five-year average build for the same week and the corresponding build in 2025, which came in at 30 Bcf and 27 Bcf, respectively. This narrowed the deficit to year-ago stocks to 16 Bcf and widened the surplus to the five-year average to 183 Bcf, the largest gap to that benchmark since September 2025.
