EIA Natural Gas Storage Build Of +53 Bcf Misses Analyst Estimates

On July 10, 2025, EIA released its Weekly Natural Gas Storage report. The report indicated that working gas in storage increased by +53 Bcf from the previous week, compared to analyst consensus of +60 Bcf. In the previous week, working gas in storage increased by +55 Bcf.

At current levels, stocks are -184 Bcf less than last year and +173 Bcf above the five-year average for this time of the year.

Natural gas prices gained ground as traders reacted to the report. Storage build missed analyst estimates, which is bullish for natural gas markets.

Traders will also focus on weather forecasts. Current demand for natural gas is high due to hot weather, but recent forecasts indicate that weather will be cooler for the 8-15 day period. It remains to be seen whether traders will focus on volatile forecasts or react to the lower-than-expected storage build.

From the technical point of view, natural gas is trying to rebound after the strong pullback from June highs, which was driven by rising storage levels. The nearest significant resistance level is located in the $3.35 – $3.40 range. A move above the $3.40 level will open the way to the test of the next resistance at $3.60 – $3.65.

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