EIA Natural Gas Storage Build Of +57 Bcf Misses Estimates

On April 10, 2025, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by +57 Bcf from the previous week, compared to analyst consensus of +60 Bcf.

At current levels, stocks are -450 Bcf less that last year and -40 Bcf below the five-year average for this time of the year.

Natural gas prices moved lower after the release of the EIA report. The storage build missed analyst estimates, but traders also focus on general outlook for the economy.

Oil markets and equity markets are under strong pressure in today’s trading session as traders continue to evaluate the recent moves on the tariff front. Tariffs on China remain intact, and traders worry that a trade war between the world’s biggest economies will hurt economic growth and put pressure on demand for energy.

From the technical point of view, natural gas did not manage to settle above the resistance at $3.70 – $3.75. If natural gas pulls back below the $3.60 level, it will head towards the nearest support, which is located in the $3.35 – $3.40 range.

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