EIA Natural Gas Storage Build Of +23 Bcf Misses Analyst Estimates

On July 24, 2025, EIA released its Weekly Natural Gas Storage report. The report indicated that working gas in storage increased by +23 Bcf from the previous week, compared to analyst forecast of +28 Bcf. In the previous week, working gas in storage grew by +46 Bcf.

At current levels, stocks are -153 Bcf less than last year and +171 Bcf above the five-year average for this time of the year.

The price of natural gas  moved higher after the release of the EIA report. Storage build missed analyst estimates, which could serve as a material positive catalyst for the market.

Natural gas markets were under strong pressure in recent trading sessions as traders focused on disappointing weather forecasts. Cooler weather forecasts showed that demand would be lower than previously expected, and natural gas prices reached multi-month lows. The EIA report may trigger a rebound, although traders will stay focused on dynamics of weather forecasts.

From the technical point of view, natural gas is trying to settle back above the $3.15 level. In case this attempt is successful, natural gas will head towards the nearest resistance level, which is located in the $3.35 – $3.40 range.

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