Natural Gas Storage: +33 Bcf
Inventories continue to grow faster than the five-year average.
The U.S. Energy Information Administration reported a weekly injection of 33 billion cubic feet (Bcf) into Lower 48 natural gas storage inventories for the week ending July 31, 2026 (Link). Total inventories now stand at 3,117 Bcf, 12 Bcf (0.4%) below year-ago levels and 195 Bcf (6.7%) above the 2021-2025 average for the same week.
This morning’s storage report showed a 33-Bcf injection into underground inventories. Stocks continue to separate from the five-year average, which increased by 22 Bcf during the report week, with builds outpacing that benchmark in six of the past seven weeks. Since the start of the injection season, inventory growth has exceeded average levels by approximately 1.2 Bcf per day. At 195 Bcf, the surplus to the five-year average is now the widest since August 2025. Storage levels also edged closer to the year-ago benchmark and now sit just 12 Bcf below the same week in 2025.
