Summary
Working gas in storage was 3,186 Bcf as of Friday, August 8, 2025, according to EIA estimates. This represents a net increase of 56 Bcf from the previous week. Stocks were 79 Bcf less than last year at this time and 196 Bcf above the five-year average of 2,990 Bcf. At 3,186 Bcf, total working gas is within the five-year historical range.
EIA Storage Report
Working Gas In Underground Storage Compared with 5-year Range
Commentary
Build estimates submitted to Reuters for the week ended Aug. 8 ranged from 31 Bcf to 59 Bcf and landed at a median of 53 Bcf. A Bloomberg survey drew a median build of 54 Bcf from a range of 51 Bcf to 59 Bcf. At the high end of the ranges, NGI modeled a 59 Bcf addition. The estimates compare with a five-year average increase of 33 Bcf and yearearlier draw of 2 Bcf. Production remains strong at over 107 Bcf/Day.
Customer Takeaway
The September contract is trading at $2.83 after breaking through the $3.00 level earlier in the week. The next support levels are at $2.76. The surplus to the five year underground storage levels is at 6.6%. Driving the sell-off, cooler late August forecasts and strong production have lifted estimates for the pace of storage builds into the fall shoulder season. Weather models shed 17 cooling degree days (CDD) week/week to put August weather-driven demand on track to be the weakest for the month in eight years, according to EBW Analytics Group senior analyst Eli Rubin. “Power burns may drop 4 Bcf/d into the last third of August while tropical risks rise, ” Rubin said. Winter gas pricing is coming down and should provide opportunities for fixing rates in the fall.
