Natural Gas Storage: +80 Bcf

Storage injection came in larger than expected but lighter than the five-year average.

The U.S. Energy Information Administration reported a weekly injection of 80 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending October 3, 2025 (Link).  Total inventories now stand at 3,641 Bcf, 23 Bcf (0.6%) above year-ago levels and 157 Bcf (4.5%) above the 2020-2024 average for the same week. 

The EIA announced an increase of 80 Bcf for U.S. inventories for the week ended October 3. The build was a mixed bag from a historical perspective, as it came in nearly in line with the year-ago build but lagged the five-year average. This was the third consecutive weekly storage build to come up shy of the average increase for the same period. Over that stretch, the surplus to the five-year average benchmark has declined from 204 Bcf to 157 Bcf. While this is still a healthy cushion heading into the final weeks of the injection season, it is noteworthy that inventory growth has been slower than average even as temperature patterns have been generally mild across the country. Stocks continue to sit at a slim surplus to year-ago levels, with injections coming in nearly equal to 2024 over the past three reports.