# Storage Upside Miss Against Averages Tricks Market, Sends Natural Gas Futures Lower

> December natural gas futures settled at $2.707 per mmBtu, down 13.8 cents, after an EIA storage report showed a 78 Bcf injection versus a 67 Bcf five-year average. The build was above most analyst forecasts of about 81 Bcf median. Mild weather expected into mid-November points to continued storage growth.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8121-storage-upside-miss-against-averages-tricks-market-sends-natural-gas-futures
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Storage builds running above average increase the inventory surplus and weigh on prices. Mild weather limiting heating demand keeps the bearish storage trend in place.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-07-09 | [U.S. Natural Gas Falls Hit By Storage, LNG Maintenance Issues - WSJ](https://feedsoft.ai/events/8661-u-s-natural-gas-falls-hit-by-storage-lng-maintenance-issues-wsj.md) | -9.8% | -16.6% |
| NATGAS | 2023-01-05 | [Bullish US natural gas storage report from EIA falls flat as NYMEX futures sell off](https://feedsoft.ai/events/9183-bullish-us-natural-gas-storage-report-from-eia-falls-flat-as-nymex-futures-sell.md) | -10.5% | -35.3% |
| NATGAS | 2022-10-21 | [Natural Gas Extends Selloff As Latest Storage Report, Freeport News Feed the Bears](https://feedsoft.ai/events/12790-natural-gas-extends-selloff-as-latest-storage-report-freeport-news-feed-the.md) | +0.3% | +20.2% |
| NATGAS | 2020-05-08 | [Balances 'Way Too Loose' as Natural Gas Futures Extend Sell-Off Early](https://feedsoft.ai/events/10444-balances-way-too-loose-as-natural-gas-futures-extend-sell-off-early.md) | -12.1% | -4.1% |
| NATGAS | 2024-04-26 | [Weekly Natural Gas Cash Spot Prices Move Higher as Futures Stumble](https://feedsoft.ai/events/9866-weekly-natural-gas-cash-spot-prices-move-higher-as-futures-stumble.md) | +18.9% | +71.3% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/natural-gas-futures-bleed-after-bearish-bite-from-storage/
- naturalgasintel.com: https://naturalgasintel.com/news/storage-upside-miss-against-averages-tricks-market-sends-natural-gas-futures-lower/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.