EIA Natural Gas Storage Build Of +110 Bcf Meets Analyst Estimates

On May 15, 2025, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by +110 Bcf from the previous week, in line with analyst forecasts.

At current levels, stocks are -375 Bcf less than last year and +57 above the five-year average for this time of the year.

Natural gas prices pulled back as traders reacted to the EIA report. It looks that traders hoped that storage build would miss analyst estimates. It should be noted that stocks are above the five-year average for this time of the year, which is bearish for natural gas markets.

Traders will also focus on weather forecasts, which have served as an additional bearish catalyst in recent trading sessions. The current demand for natural gas is low, and forecasts do not point to high demand in the upcoming days.

From the technical point of view, natural gas is trying to settle below the support level at $3.35 – $3.40. In case this attempt is successful, natural gas will head towards the next support level 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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