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Commodities Buzz: EIA reports record drop in US natural gas storage
06-Feb-2026 15:11
The US Energy Information Administration (EIA) reported that working natural gas stocks fell 360 billion cubic feet (Bcf) in the Lower 48 states for the week ending January 30, 2026, amid Winter Storm Fern'the largest weekly net withdrawal reported in the history of the Weekly Natural Gas Storage Report. The withdrawal exceeded the five-year average for the same week by 89% (170 Bcf). The large withdrawals resulted from increased heating demand for natural gas and natural gas production curtailments because of severe winter weather. Working gas stocks are now 1.1% below the five-year average for this time of year but still stay marginally over last year's level. The extreme cold increased demand for space heating, leading to increased natural gas consumption in the residential and commercial sectors, and increased demand for natural gas for electricity generation.

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