Natural Gas Storage: +90 Bcf

Gas build came in larger than expected, keeping pressure on prices.

The U.S. Energy Information Administration reported a weekly injection of 90 Billion Cubic Feet (Bcf) in Lower 48 natural gas storage inventories for the week ending September 12, 2025 (Link).  Total inventories now stand at 3,433 Bcf, 4 Bcf (0.1%) below year-ago levels and 204 Bcf (6.3%) above the 2020-2024 average for the same week. 

Today’s storage build brought inventories back virtually in line with year-ago levels. The 90-Bcf build came in stronger than consensus expectations and outpaced the year-ago and five-year average build, marking the third straight report to show an injection that eclipsed both key benchmarks. Inventories in early March sat at a deficit of more than 600 Bcf to year-ago levels, but a strong injection season has worked to erase that gap in 6 months. Over that span, storage has grown at a pace of more than 3 Bcf stronger than the same period in 2024, putting inventories on a very healthy path heading into the upcoming winter season.