Summary
Working gas in storage was 2,707 Bcf as of Friday, June 6, 2025, according to EIA estimates. This represents a net increase of 109 Bcf from the previous week. Stocks were 256 Bcf less than last year at this time and 139 Bcf above the five-year average of 2,568 Bcf. At 2,707 Bcf, total working gas is within the five-year historical range.
EIA Storage
Working Gas in Underground Compared with 5-Year Range
Commentary
NGI is predicting a 106 Bcf injection, while a Reuters survey of 13 analysts predicted an average build of 108 Bcf. This compares with an injection of 77 Bcf during the same week a year ago and a five-year (2020-2024) average increase of 87 Bcf for this time of year. Bloomberg polled seven analysts who landed on a median injection of 108 Bcf.
Customer Takeaway
The July contract is trading at $3.56 after moving up to $3.82 last week. A heat wave is expected to move across the country, increasing demand for natural gas for cooling. The surplus to the five year average in inventories now stands at 5.4%. We should see downward pressure in pricing as this continues to improve.
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