The Energy Information Administration (EIA) Natural Gas Storage Report has been published every Thursday since 2002. It provides an overview of the level of natural gas inventories held in underground storage facilities throughout the United States.

This weekly storage report can be an indicator of natural gas price strength or weakness. While this is a U.S. indicator it tends to also have an impact on Canadian prices, because of Canada’s sizable energy resources. The storage report along with current natural gas demand, production, and weather forecasts, contribute to the volatility and direction of natural gas prices in North America.

An increase or decrease in natural gas inventories, compared to expectations, can imply weaker or stronger demand and will contribute to natural gas prices becoming bearish or bullish.

The weekly stocks, as reported by the EIA, generally are the inventories of working gas as of the report date. The “net change” in reported stock levels reflects all events affecting working gas in storage, including injections, withdrawals, and reclassifications between base and working gas. The “implied flow” estimate represents movements of working natural gas into or out of underground natural gas storage facilities.