The U.S. Energy Information Administration (EIA) reported a 96 billion cubic feet (Bcf) natural gas inventory increase for the week ending May 15. This injection reached the top of analyst forecasts ranging from 95 to 96 Bcf. The build significantly exceeded the previous week’s 85 Bcf injection.
This storage growth signals that supply is outpacing demand, creating bearish pressure on prices. Milder weather forecasts and lower cooling demand following a heatwave drive recent price weakness.
Total working gas in storage now sits further above the five-year average. This surplus indicates ample supply heading into the summer season. The report serves as a critical fundamental indicator for natural gas futures (NG=F) investors.