EIA Natural Gas Storage Build Of +7 Bcf Misses Estimates

On August 7, 2025, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by +7 Bcf from the previous week, compared to analyst forecast of +15 Bcf. In the previous week, working gas in storage increased by +48 Bcf.

At current levels, stocks are -137 Bcf less than last year and +173 Bcf above the five-year average for this time of the year. Stocks are well above the five-year average, but traders also focus on near-term inventory dynamics and weather forecasts.

Natural gas prices  moved higher as traders reacted to the EIA report. Storage build missed analyst estimates, which was bullish for natural gas markets.

Current demand for natural gas is moderate. However, weather forecasts indicate that natural gas demand will soon increase, which may provide additional support to natural gas markets.

From the technical point of view, natural gas settled back above the support at $3.00 – $3.05 and is trying to settle above the $3.10 level. In case this attempt is successful, natural gas prices will move towards the $3.20 level. A move above $3.20 will open the way to the test of the resistance at $3.35 – $3.40.

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