EIA Natural Gas Storage Build Of +55 Bcf Exceeds Analyst Estimates

On July 3, 2025, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by +55 Bcf from the previous week, compared to analyst forecast of +53 Bcf. In the previous week, working gas in storage increased by +96 Bcf.

At current levels, stocks are -176 Bcf less than last year and +173 Bcf above the five-year average for this time of the year. High storage levels serve as a negative catalyst for natural gas markets.

Natural gas prices pulled back as traders reacted to the EIA report. Storage build exceeded analyst expectations, which is bearish for natural gas prices.

Traders will also stay focused on weather forecasts, which have a material impact on natural gas market dynamics. The current demand for natural gas is high. However, demand is expected to pull back in the next week due to cooler weather, which may put additional pressure on the market.

From the technical point of view, natural gas is moving towards the nearest support level at $3.35 – $3.40. If natural gas manages to settle below this level, it will head towards the next support at $3.05 – $3.10. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

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