EIA Natural Gas Storage Build Of +46 Bcf Exceeds Estimates

On July 17, 2025, EIA released its Weekly Natural Gas Storage report. The report indicated that working gas in storage increased by +46 Bcf from the previous week, compared to analyst forecast of +45 Bcf. In the previous week, working gas in storage increased by +53 Bcf.

At current levels, stocks are -156 Bcf less than last year and +178 Bcf above the five-year average for this time of the year.

Natural gas prices moved away from session highs as traders reacted to the EIA report. It should be noted that natural gas traders enjoyed a strong rebound from July lows. The report exceeded analyst estimates, so some traders may decide to take profits off the table after the rally.

The current demand of natural gas is high due to hot weather. Forecasts remain bullish, and demand is expected to stay high in the next seven days.

From the technical point of view, natural gas is trying to settle above the resistance at $3.60 – $3.65. In case natural gas manages to settle above the $3.65 level, it will head towards the next resistance level at $3.95 – $4.00. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in the near term.

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