EIA Natural Gas Storage Report week ending 12-19-25

Tony Zelinski
20 minutes ago
2 min read

The EIA reported a 166 Bcf withdrawal from U.S. natural gas storage for the week ending December 19, 2025, pulling total working gas down to 3,413 Bcf. This marks the third consecutive triple‑digit draw and pushes inventories 24 Bcf below the five‑year average of 3,437 Bcf. Stocks now sit 129 Bcf below last year at this time—a notable shift as winter demand accelerates.

🔍 Storage Snapshot

Metric	Value
Weekly Net Change	–166 Bcf
Total Working Gas	3,413 Bcf
Year-over-Year Difference	–129 Bcf
5-Year Average Comparison	–24 Bcf
Status	Within 5-year historical range

This withdrawal was in line with market expectations, which clustered around 166–167 Bcf

📍 Regional Breakdown

All regions posted withdrawals, with the Midwest and East leading the draw:

East: –46 Bcf
Midwest: –62 Bcf
Mountain: –5 Bcf
Pacific: –1 Bcf
South Central: –52 Bcf (Salt –15, Nonsalt –36)

The South Central region continues to show balanced draws between salt and nonsalt facilities, reflecting steady heating demand across Texas and the Gulf states.

🌡️ Weather & Demand Drivers

A broad cold pattern across the Midwest and Northeast boosted heating degree days and residential/commercial demand.
Power burn remained firm as wind output dipped, requiring more gas‑fired generation.
LNG feedgas demand stayed elevated, with U.S. export facilities running near capacity.

These factors combined to produce one of the strongest early‑season withdrawals.

⚙️ Supply & Production Trends

Production remained resilient, though freeze‑offs in the Rockies and Midcontinent created localized supply tightness.
National dry gas output hovered near recent highs, helping offset some weather‑driven demand pressure.
Storage remains within the 5‑year range, but the surplus cushion has now fully evaporated.

📈 Market Reaction

The market viewed the report as neutral to slightly bullish, given the alignment with expectations and the continued tightening of balances.

Traders are increasingly focused on late‑December and early‑January weather, which will determine whether withdrawals accelerate further.
With inventories now below both last year and the 5‑year average, the winter risk premium is creeping back into the curve.

🧭 Strategic Takeaways

Inventories have flipped to a deficit versus both last year and the 5‑year average—an important psychological and fundamental shift.
Weather remains the dominant driver, and any sustained cold could push withdrawals deeper into triple‑digit territory.
LNG exports and production stability will be key swing factors as we move into January.
The market is entering a period of heightened volatility, with tighter balances and strong winter demand setting the tone.

#NaturalGas #EIA #GasStorage #EnergyMarkets #Commodities #WinterOutlook #HenryHub #LNG #WeatherRisk #NatGas

Sources:

Natural Gas Futures