Natural Gas Storage: +53 Bcf

Build comes in smaller than expected, adding fuel to this week's rally.

The U.S. Energy Information Administration reported a weekly injection of 53 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending September 26, 2025 (Link).  Total inventories now stand at 3,561 Bcf, 21 Bcf (0.6%) above year-ago levels and 171 Bcf (5.0%) above the 2020-2024 average for the same week. 

Natural gas storage inventories grew by 53 Bcf during the last full week of September. The build was virtually in line with the same week in 2024, holding that slim surplus intact, while falling well short of the five-year average for the same week, which was an injection of 85 Bcf. That 32-Bcf shortfall represents the biggest gap of the season between 2025 and the five-year average benchmark, resetting the surplus back to where it was in late August. Today’s report marked the second straight week of declining storage builds as cooling demand lingered across key markets during the second half of September.