What The July 9 Report Shows
EIA reported a 61 Bcf net injection into Lower 48 storage for the week ending July 3, bringing total working gas to 2,983 Bcf. Stocks were 15 Bcf below the year-earlier level and 185 Bcf above the five-year average of 2,798 Bcf.
The injection was 26 Bcf smaller than the prior week's 87 Bcf build, but the five-year surplus still widened by 10 Bcf and the year-over-year deficit narrowed by 8 Bcf. Commercial buyers should read all three comparisons together instead of treating the weekly injection alone as a price call.
| Region | Working Gas | Weekly Change | Vs 5-Yr Avg | Vs Year Ago |
|---|---|---|---|---|
| East | 600 Bcf | +13 Bcf | +1.7% | -2.3% |
| Midwest | 729 Bcf | +23 Bcf | +6.4% | +3.1% |
| Mountain | 236 Bcf | +6 Bcf | +22.3% | +2.2% |
| Pacific | 319 Bcf | +6 Bcf | +24.1% | +10.0% |
| South Central | 1,100 Bcf | +14 Bcf | +2.5% | -4.9% |
| South Central salt | 329 Bcf | -1 Bcf | +8.9% | -2.9% |
| South Central nonsalt | 771 Bcf | +15 Bcf | 0.0% | -5.6% |
| Signal | Market Read | Buyer Move |
|---|---|---|
| 61 Bcf injection | The weekly build lifted Lower 48 working gas from 2,922 Bcf to 2,983 Bcf, but it was 26 Bcf smaller than the prior week. | Treat the slower build as a reason to keep watching heat, LNG feedgas, production, and power-sector gas burn rather than assuming a one-way supply signal. |
| 185 Bcf above five-year average | The five-year cushion widened by 10 Bcf from the July 2 report and reached 6.6% above average. | Use the surplus as constructive national inventory context, then test whether regional basis and contract pass-through terms tell the same story. |
| 15 Bcf below last year | The year-over-year deficit narrowed from 23 Bcf to 15 Bcf, leaving inventories close to—but not above—the 2025 level. | Avoid presenting the five-year surplus as proof that every comparison is loose or that delivered rates must decline. |
| South Central split | South Central salt storage withdrew 1 Bcf while nonsalt storage remained 5.6% below last year. | Keep Gulf Coast, LNG-linked, and basis-sensitive exposures separate from the Lower 48 headline. |
How To Use The Number
- Keep the dates attached: this is the July 9, 2026 report for the week ending July 3.
- Separate national inventory from regional basis: Pacific storage was 24.1% above average, while South Central nonsalt was only at its five-year average and remained 5.6% below last year.
- Connect gas and power carefully: storage can influence gas-indexed wholesale power risk, but delivery tariffs, capacity, transmission, load shape, and contract language decide the invoice.
What Not To Infer
- A 61 Bcf injection does not guarantee lower delivered natural gas or electricity rates.
- A national five-year surplus does not remove local basis or pipeline-constraint risk.
- Weekly storage data is not a supplier quote and should not be converted into one without the customer's tariff class, load shape, and contract terms.
Sources: U.S. Energy Information Administration Weekly Natural Gas Storage Report for week ending July 3, 2026, released July 9, 2026; EIA weekly storage JSON; EIA natural gas storage API.