EIA Natural Gas Storage Build Of +48 Bcf Exceeds Analyst Estimates

On July 31, 2025, EIA released its Weekly Natural Gas Storage report. The report indicated that working gas in storage increased by +48 Bcf from the previous week, compared to analyst forecast of +38 Bcf. In the previous week, working gas in storage increased by +23 Bcf.

At current levels, stocks are -123 Bcf less than last year and +195 Bcf above the five-year average for this time of the year.

Natural gas  is losing some ground as traders react to the EIA report. Storage build exceeded analyst expectations, which may serve as an additional bearish catalyst for natural gas markets.

It should be noted that natural gas prices suffered a significant pullback in July, so some traders may be willing to buy the dip. Current demand for natural gas is high, but forecasts indicate that weather will be cooler at the start of the next week.

From the technical point of view, natural gas continues its attempts to settle below the support level at $3.00 – $3.05. In case natural gas manages to settle below the $3.00 level, it will head towards the next support at $2.70 – $2.75. RSI remains in the moderate territory, and there is plenty of room to gain momentum in the near term.

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