Summary
Working gas in storage was 2,598 Bcf as of Friday, May 30, 2025, according to EIA estimates. This represents a net increase of 122 Bcf from the previous week. Stocks were 288 Bcf less than last year at this time and 117 Bcf above the five-year average of 2,481 Bcf. At 2,598 Bcf, total working gas is within the five-year historical range.
EIA Storage Report
Working Gas in Underground Compared with 5-Year Range
Commentary
A Reuters survey of 14 analysts predicted a median increase of 111 Bcf, versus last year’s build of 94 Bcf and the five-year average increase of 98 Bcf for this time of year. NGI is predicting a 110 Bcf injection into stocks, which would widen the surplus versus the five year average to 105 Bcf from 93 Bcf. NatGasWeather said there is potential that Thursday’s report could miss bullish because of “much lighter wind energy generation” last week. Early estimates submitted to Reuters for the subsequent report covering the current week produced an average increase of 105 Bcf, versus the year-ago build of 77 Bcf and the five-year average increase of 87 Bcf.
Customer Takeaway
This report reflects lighter demand in the previous week for LNG exports and weather. The surplus to five year averages is now 4.7%. We believe that those who were patient while the storage was replenished will be rewarded with lower pricing.
