EIA Weekly Natural Gas Storage Report - Oct 30

[dan_s]

Working gas in storage was 3,882 Bcf as of Friday, October 24, 2025, according to EIA estimates.
This represents a net increase of 74 Bcf from the previous week. < 7 Bcf higher than the 5-year average.
Stocks were 29 Bcf higher than last year at this time and 171 Bcf above the five-year average of 3,711 Bcf.
At 3,882 Bcf, total working gas is within the five-year historical range.

There is expected be three more weekly builds, so the "Refill Season" should end November 14th with draws starting the next week.

Based primarily on the weather forecast, the next two weekly builds should be significantly lower than the builds for those two weeks a year ago. So, EIA should announce next week that "Stocks are a few Bcf lower than they were a year ago" and that deficit to last year should continue to increase through early December.

Based on the CelsiusEnergy forecasts for the next 3 weeks, the refill season should end on November 14th with approximately 3,972 Bcf in storage, 172 Bcf more than the 5-year average.

With just normal winter weather in the eastern half of the U.S. the surplus to the 5-year average should be gone by year-end. If so, that is when the "Fun Begins" for the Gassers.

From mid-November 2024 through March 2025 gas in storage declined by 2,199 including three weekly builds in March. Increasing LNG exports and normal winter weather should push the total draws higher this year. So, we have enough gas in storage to make it through the 2025/2026 winter, but refilling storage before the 2026/2027 winter begins is going to be difficult.