📉 EIA Natural Gas Storage Report – Week Ending February 13, 2026

Tony Zelinski
1 day ago
2 min read

The latest EIA Weekly Natural Gas Storage Report for the week ending February 13, 2026, shows another meaningful withdrawal as colder‑than‑normal conditions continue to shape U.S. natural gas fundamentals. Working gas in underground storage fell by 144 Bcf, bringing total inventories to 2,070 Bcf—a level that sits 59 Bcf below last year and 123 Bcf under the five‑year average.

While storage remains within the five‑year historical range, the deficit to seasonal norms has widened, reinforcing a market narrative that winter 2025–26 is drawing down inventories at a faster clip than many early‑season forecasts anticipated.

Regional Breakdown: Broad-Based Withdrawals

Every major region posted a net draw this week, though the magnitude varied:

Region	Weekly Change	Notable Context
East	-50 Bcf	Inventories now sit nearly 9% below last year and 17% below the five‑year average.
Midwest	-53 Bcf	Similar pattern: 9% below last year and 18% below the five‑year norm.
Mountain	-2 Bcf	Still running well above historical levels—12% above last year and 45% above the five‑year average.
Pacific	-2 Bcf	Strong surplus persists: 29% above last year and 41% above the five‑year average.
South Central	-37 Bcf	Salt facilities saw an 8 Bcf draw; nonsalt withdrew 29 Bcf. Inventories remain below both last year and the five‑year average.

The regional divergence—particularly the Mountain and Pacific surpluses versus deficits in the East and Midwest—continues to highlight how infrastructure constraints and weather variability shape localized storage dynamics.

What This Means for the Market

With total inventories now 2.8% below last year and 5.6% below the five‑year average, the market enters the late‑winter period with a tighter cushion than many expected heading into January.

A few key implications stand out:

1. Late‑Season Volatility Remains on the Table

If February and early March deliver additional cold shots, the storage deficit could widen further, supporting price firmness.

2. Shoulder Season Refill Will Be Under the Microscope

Producers and traders will be watching how quickly injections can ramp once temperatures moderate. A deeper‑than‑normal end‑of‑season storage level often sets the tone for summer pricing.

3. Regional Constraints Could Influence Basis Markets

The East and Midwest deficits may continue to pressure regional basis spreads, especially if pipeline constraints coincide with late‑season demand.

Sampling Variability: Confidence in the Data

The EIA also provides estimated measures of sampling variability. For this week, the standard error for total net change is 0.9 Bcf, indicating high confidence in the reported withdrawal. Regional coefficients of variation remain low, reinforcing the reliability of the dataset.

Bottom Line

This week’s 144 Bcf withdrawal underscores a winter that continues to chip away at storage levels more aggressively than last year and the five‑year norm. While inventories remain within the historical range, the tightening trend is clear—and the next few weeks will determine whether the market exits winter with a comfortable buffer or a more bullish setup heading into injection season.

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Sources:

Natural Gas Futures