Natural Gas Storage: -54 Bcf
Cold snap leads to the return of net withdrawals and a new seasonal low.
The U.S. Energy Information Administration reported a weekly withdrawal of 54 billion cubic feet (Bcf) from Lower 48 natural gas storage inventories for the week ending March 20, 2026 (Link). Total inventories now stand at 1,829 Bcf, 90 Bcf (5.2%) above year-ago levels and 14 Bcf (0.8%) above the 2021-2025 average for the same week.
Following the previous week’s net build, inventories posted a 54-Bcf draw for the week ended March 20. The announced draw brings underground stocks to a new seasonal low, likely marking a bottom of 1,829 Bcf, while reducing the surplus to both the five-year average and year-ago levels. The draw was more than double the five-year average for the same week and stood in contrast to a build of 33 Bcf during the corresponding week in 2025.
