# Bullish US natural gas storage report from EIA falls flat as NYMEX futures sell off

> The EIA reported a 221 Bcf drawdown from US gas storage in the week ended Dec. 30, leaving inventories about 7% below the five-year average. The withdrawal was slightly smaller than the S&P Global consensus of 235 Bcf, and NYMEX February gas fell to the $3.70s per MMBtu.

- Date: 2023-01-05 · published 2023-01-05T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/9183-bullish-us-natural-gas-storage-report-from-eia-falls-flat-as-nymex-futures-sell
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A storage report that undershot expectations was bullish on fundamentals but failed to support prices as mild weather outlooks dominated. The price effect points to continued weakness in natural gas unless colder forecasts return.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-08-31 | [Nat-Gas Prices Fall Back on Bearish EIA Report](https://feedsoft.ai/events/34751-nat-gas-prices-fall-back-on-bearish-eia-report.md) | -4.5% | +7.9% |
| 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 | 2026-10-29 | [Natural Gas News: EIA Storage Report Could Test Bearish Trend and Spark Volatility \| FXEmpire](https://feedsoft.ai/events/1450-natural-gas-news-eia-storage-report-could-test-bearish-trend-and-spark.md) | -1.8% | — |
| NATGAS | 2019-11-01 | [NYMEX natural gas inches lower after higher than expected storage build report – The Energy Bulletin Daily](https://feedsoft.ai/events/56251-nymex-natural-gas-inches-lower-after-higher-than-expected-storage-build-report.md) | +4.7% | -11.6% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/natural-gas/010523-bullish-us-natural-gas-storage-report-from-eia-falls-flat-as-nymex-futures-sell-off

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