U.S. natural gas storage levels remain above average through injection season

In our latest Short-Term Energy Outlook, we forecast U.S. working natural gas inventories will reach 3,872 billion cubic feet (Bcf) by the end of October, or 2% more than the previous five-year average for that time of year. Natural gas inventories grew quickly in late April through early June, with seven consecutive weeks of net injections to inventories exceeding 100 Bcf each for the first time since 2014.

U.S. natural gas production outpaced natural gas consumption during the start of the 2025 injection season. The injection season generally runs from April through October, when injections into storage are typically greater than withdrawals. The latest data from our Weekly Natural Gas Storage Report show total natural gas inventory was 7% above the five-year (2020–24) average as of August 8, compared with the start of this injection season, when it was 4% below average for the week ending March 28.

Weekly net injections exceeding 100 Bcf in the Lower 48 states generally occur in about three weeks per year, based on data for the previous five years (2020–24). In 2025, weekly net injections exceeded 100 Bcf in seven consecutive weeks, based on data through August 8. However, we expect smaller weekly injections through October as more natural gas is consumed for power generation and exported as liquefied natural gas.

The South Central, Midwest, and East storage regions contributed the most to increasing storage volumes in prior months. We forecast inventory in the South Central region will remain above the five-year average through October and end the season at the highest level since 2016. We expect inventories in all other regions will end October near their five-year average levels.

Principal contributors: Trinity Manning-Pickett, Andrew Iraola