EIA Natural Gas Storage Build Of +101 Bcf Exceeds Analyst Estimates

On May 29, 2025, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by +101 Bcf from the previous week, compared to analyst forecast of +99 Bcf. In the previous week, working gas in storage increased by +120 Bcf.

At current levels, stocks are -316 Bcf less than last year and +93 Bcf above the five-year average for this time of the year.

Natural gas prices remained under pressure as traders reacted to the EIA report. Natural gas storage build exceeded analyst estimates, which may serve as an additional negative catalyst for natural gas prices. At this point, stocks are above the five-year average, which is bearish for natural gas markets.

The current demand for natural gas is low. Weather forecasts point to low demand in the next seven days, so it remains to be seen whether natural gas bulls will find positive catalysts to push prices higher.

From the technical point of view, natural gas is trying to settle below the $3.50 level. In case this attempt is successful, natural gas will head towards the nearest support level, which is located in the $3.35 – $3.40 range.

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