EIA Natural Gas Storage Report – Week Ending January 9, 2026

Tony Zelinski
5 hours ago
2 min read

The latest EIA storage report shows a 71 Bcf withdrawal, a lighter‑than‑normal mid‑January draw driven by warmer‑than‑average temperatures across most of the U.S. Total working gas now stands at 3,185 Bcf, keeping inventories well within the 5‑year historical range.

While the withdrawal reflects seasonal demand, it is notably below the 5‑year average draw of 146 Bcf, highlighting how mild weather continues to suppress heating loads.

📊 Storage Snapshot

Metric	Value
Weekly Net Change	-71 Bcf
Total Working Gas	3,185 Bcf
Year-over-Year Difference	+33 Bcf
5-Year Average Comparison	+106 Bcf
Status	Within 5-Year Range

Inventories remain above both last year and the 5‑year norm, reinforcing a broadly oversupplied winter backdrop.

📍 Regional Breakdown

All regions posted withdrawals except South Central salt, which saw a small build

The East and Midwest accounted for the bulk of the draw, consistent with normal early‑January heating demand in population‑dense regions.

🌡️ Weather & Demand Drivers

According to market commentary, the sample week was much warmer than normal, sharply reducing heating degree days and limiting residential/commercial demand.

Key drivers:

• Above‑average temperatures across most of the Lower 48

• Stable wind generation, reducing incremental gas‑fired power burn

• Moderate LNG feedgas demand, steady but not surging

• Strong production, keeping supply robust

This combination produced a withdrawal far lighter than typical for early January.

⚙️ Supply & Production Context

While the EIA report does not include production data, market sources note:

• Dry gas production remains strong, keeping daily output near seasonal highs

• No major freeze‑offs occurred during the period

• Storage remains comfortably supplied, even as winter progresses

This continues to cap upside price momentum.

📈 Market Reaction

The market interpreted the report as bearish, with natural gas futures slipping toward the $3.00/MMBtu support level following the release.

Traders are watching:

• Whether upcoming cold shots will be brief or sustained

• LNG export volumes, which remain a key balancing factor

• Production stability as colder weather approaches mid‑January

Despite colder forecasts ahead, storage levels remain too high to spark a meaningful rally—at least for now.

🧭 Strategic Takeaways

• 71 Bcf withdrawal is well below seasonal norms

• Inventories remain elevated, limiting bullish momentum

• Weather remains the dominant driver, with short‑lived cold unlikely to materially tighten balances

• Market risk is skewed bearish unless deeper, sustained cold emerges

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

Sources:

Natural Gas Futures