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Natural Gas Storage Plummets to Record Low Amid Storm

2/5/2026

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Story summary
  • Natural gas storage fell 360 Bcf last week to 2,463 Bcf, due to Winter storm Fern.
  • This draw surpassed the 359 Bcf record set in January 2018, leaving inventories below the five-year average.
  • Analysts expect the Energy Information Administration (EIA) report to confirm a record draw of about 366 Bcf.
  • Futures fluctuated, dropping earlier but rebounding ahead of the EIA data amid high volatility.