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Natural gas storage levels and your January bill

Author : Seenra Energ | Published On : 24 Oct 2026

EIA storage data drops every Thursday. When inventory falls below 5-year average, retail prices rise within 30 days. How to read the chart.

 

TL;DR

  • EIA publishes US working gas storage levels every Thursday at 10:30 am ET. The report is the single biggest weekly mover of wholesale gas prices.
  • When storage falls below the 5-year average band, Henry Hub commodity prices typically rise within 5 business days and retail bills follow within 30 days.
  • Locked-rate gas customers are insulated from these moves for their contract term. Default-service customers absorb them at the next quarterly tariff adjustment.

EIA publishes US working natural gas storage levels every Thursday at 10:30 am ET. The weekly report is the single biggest mover of wholesale gas prices. When storage falls below the 5-year average band, Henry Hub commodity prices typically rise within 5 business days and retail bills follow within 30 days. Locked-rate gas customers are insulated for their contract term. Here is how to read the chart and what storage levels mean for your January bill.

 

The EIA Thursday report

Every Thursday at 10:30 am Eastern, EIA publishes the Weekly Natural Gas Storage Report. The report covers the previous week ending the prior Friday. It is the single biggest market-moving data point for US natural gas.

The report shows US working gas in storage (residential demand reserve) by region. It also compares current storage to the prior year and to the 5-year average. Markets react within minutes of the release.

 

How storage levels move prices

When storage falls more than expected, prices rise. When storage falls less than expected, prices fall. The reaction is typically a 1 to 4 percent move in the first hour, expanding to 4 to 12 percent over the following week if the surprise is large.

Below 5-year average for 4 weeks in a row is the bearish signal. Above average for 4 weeks is the bullish signal. The 5-year band is the canonical reference.

 

Fill season vs withdrawal season

Fill season runs April through October. Storage levels rise as gas is injected during low-demand months. Withdrawal season runs November through March. Storage levels fall as gas is consumed during high-demand months.

The seasonal pattern is predictable. The volatility comes from weather (especially extreme winter cold), demand growth from data centers and LNG export, and supply disruptions.

 

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