Energy Markets in Charts

Energy Market Charts: Supply, Demand and Inventories

StorageCurve turns official energy data into clear, interactive charts—tracking what is produced, what is consumed, and whether inventories are building or drawing.

LOW inventory versus season

tighter physical balance

HIGH inventory versus season

looser physical balance A percentile read on physical balance.

Latest curve

US natural gas storage

Data through Sep 11, 2026
Current inventory 3,298 Bcf

Week ending

Versus 5-year average +2.5%

+79 Bcf

Weekly change +44

-34 Bcf vs normal

Storage pressure Slightly loose

60th percentile of five-year sample

Seasonal inventory curve

US gas: current year vs history

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Source: U.S. Energy Information Administration (Sep 2026). Published Sep 17, 2026. How the curve is calculated
View recent weekly values
Recent US gas observations
Week endingInventoryWeekly price context
Jun 26, 20262,922 Bcf3.20
Jul 3, 20262,983 Bcf3.34
Jul 10, 20263,024 Bcf3.09
Jul 17, 20263,056 Bcf2.79
Jul 24, 20263,084 Bcf2.86
Jul 31, 20263,117 Bcf2.62
Aug 7, 20263,153 Bcf2.66
Aug 14, 20263,169 Bcf2.79
Aug 21, 20263,184 Bcf2.86
Aug 28, 20263,214 Bcf2.81
Sep 4, 20263,254 Bcf2.91
Sep 11, 20263,298 Bcf2.79

The premise

Supply, demand, and the balance between them.

Energy markets are shaped by countless variables, but the physical balance between supply and demand eventually appears in inventories. StorageCurve tracks what is produced, what is consumed, whether inventories are building or drawing, and what that balance may indicate about future supply pressure.

The market price of every particular commodity is regulated by the proportion between the quantity brought to market and the demand.
Adam Smith
One obvious sell signal is that inventories are building up.
Peter Lynch, on cyclical companies

Methodology

How the analysis is built.

The five-year average is a reference point, not a forecast. Structural changes in production, demand, exports and capacity can change what should be considered normal. Inventories rise when supply exceeds immediate demand and fall when consumption, exports or disruptions exceed available supply. They do not explain every price movement, but they provide one of the clearest measures of the physical balance.

  1. 01Normalize

    One official observation per metric and week.

  2. 02Match the season

    Compare the same week across five prior complete years.

  3. 03Read pressure

    Deficit means tighter; surplus means looser—with limits stated.

Energy markets in charts

Connected views of supply, demand, inventories and power.

National totals show the broad buffer. Delivery hubs and export-linked regions show where the pressure can concentrate.

OUTLOOK · WORLD

Global oil supply & demand forecast

Compare next-year agency forecasts, inventory normalization and saved monthly revisions.

Compare forecasts
CL · US

US commercial crude inventories

Weekly EIA ending stocks excluding the Strategic Petroleum Reserve.

Open US crude
WTI · CUSH

US Cushing crude inventories

The WTI delivery-point inventory — a focused view of local crude tightness.

Open Cushing
GAS · EU

EU natural gas storage

Weekly-sampled AGSI gas in storage, TWh, and capacity fullness.

Open EU gas
BUFFER · EUROPE

Europe seasonal electricity buffer

A 6–12-month gas-storage path with hydro and firm-power coverage kept explicit, plus current market confirmation.

Open seasonal outlook
REFILL · OIL

Inventory Rebuild Demand

Global STEO net depletion, a five-month forecast limit and conditional inventory refill rates.

Estimate refill demand
OIL · WORLD

Global oil demand

Monthly EIA STEO world liquid fuels consumption against supply, and the implied global build or draw.

Open global demand
FORECAST · EIA

EIA crude price forecast

The current STEO path for WTI and Brent, its monthly revisions, and how past forecasts scored against realised spot.

Open price forecast
SUPPLY · WORLD

Global oil production

Monthly world petroleum and other liquids production compared with crude oil production alone.

Open global production
BUFFER · OPEC

OPEC spare capacity

Monthly OPEC surplus crude capacity, Saudi concentration, and historical buffer regime.

Open OPEC capacity
EXPORTS · GULF

Strait of Hormuz

Reported Saudi crude exports against production, refining, direct burn and storage, with the reporting lag stated.

Open the Hormuz tracker
ULSD · US

Diesel tightness tracker

Crack-led weekly EIA score with distillate stocks, product pull, refinery transmission and a separate disruption proxy.

Open diesel tightness

Reading the signal

What supply, demand, and inventories can—and cannot—tell you.

Inventories are the accumulated result of supply meeting demand. A deficit means supply has not kept up with consumption; a surplus means the reverse. That makes the balance useful for framing risk.

But inventories alone are not sufficient. Production, weather, refinery demand, exports, pipeline constraints, macro conditions, and positioning can overwhelm the storage signal. StorageCurve keeps the conclusion proportional to the data.

Read the complete methodology
Seasonal deficitTight

Less buffer than the five-year norm

Near seasonal normBalanced

Inventory alone sends a weak signal

Seasonal surplusLoose

More buffer than the five-year norm

Source ledger

Every number has a provider and a date.

EIA / API v2

United States inventories and prices

Source: U.S. Energy Information Administration (Sep 2026).

Open EIA source
Fraunhofer ISE / Energy-Charts

European power and day-ahead prices

Source: Energy-Charts.info, Fraunhofer ISE (CC BY 4.0).

Open Energy-Charts source

Questions, answered from the method

Storage data FAQ

Release timing, seasonal comparisons, Cushing, Europe, and the limits of inventory-based price context.

When is the EIA natural gas storage report released?

The Weekly Natural Gas Storage Report is normally released on Thursday at 10:30 a.m. Eastern Time. Federal holidays can move the schedule. StorageCurve shows both the observation date and the time our updater first saw the new release.

What is the natural gas storage report?

It is the EIA estimate of working natural gas held in underground storage in the Lower 48 states. The report gives the level and the weekly net change, which can be an injection or a withdrawal.

How often are US storage numbers updated?

EIA natural gas and petroleum inventory series are weekly. StorageCurve checks for source updates automatically and publishes a compact weekly observation rather than storing high-frequency duplicates.

When are US crude oil inventories released?

The EIA Weekly Petroleum Status Report is normally released on Wednesday at 10:30 a.m. Eastern Time, with holiday exceptions. The data generally describe stocks at the end of the prior reporting week.

When does European gas storage data update?

GIE says AGSI data is updated daily for the previous gas day, with publication rounds around 19:30 and 23:00 CET. StorageCurve samples this daily source into one big-picture weekly series.

Why are the data-through date and publication date different?

The data-through date is the end of the measured period. The publication or first-observed timestamp is when that observation became available. A report can therefore be published several days after the storage date.

Is StorageCurve a price forecast?

No. StorageCurve reports where physical inventories sit relative to their own recent history—not a predicted price, trading signal, or target. In our view, inventory data is one of the more reliable directional inputs available, but it remains one input among many, not a forecast on its own.

How is the five-year average calculated?

For the current seasonal week, StorageCurve averages the matching week from the five previous complete years. The current year is excluded so today’s value never changes its own benchmark.

Why can low storage be bullish for price?

Below-normal inventories leave less physical buffer for unexpected demand or supply disruption. That can increase scarcity pressure, but price also depends on production, weather, imports, exports, demand, transport constraints, and market positioning.

Does high storage always mean lower prices?

No. Above-normal storage is usually a looser physical backdrop, but it is not a stand-alone price forecast. Prices can rise despite high inventories when future supply risks or demand expectations change quickly.

What does the storage-pressure label mean?

It classifies the latest percentage deviation from the five-year seasonal average. A deficit is labelled tight and a surplus loose. The score is deterministic, transparent, and deliberately does not claim a target price.

What is “flow versus normal”?

It compares the latest weekly inventory change with the average change for the same seasonal week in the prior five years. A smaller gas injection or a larger draw than normal can indicate tightening.

Why compare with both last year and the five-year average?

Last year shows the closest seasonal analogue, while the five-year average reduces the risk that one unusual year dominates the comparison. They answer different questions and are most useful together.

What does the weekly price overlay show?

For US gas and oil, it aligns EIA weekly Henry Hub or WTI spot prices with inventory dates. It is context for visual comparison, not proof that inventory changes caused each price move.

Which US crude inventory does StorageCurve use?

The headline curve uses EIA US ending stocks of crude oil excluding the Strategic Petroleum Reserve. This focuses the comparison on commercial crude stocks.

Why exclude the Strategic Petroleum Reserve?

SPR barrels are government emergency stocks and behave differently from normal commercial inventory. Excluding them gives a cleaner view of the physical commercial balance followed by many oil-market participants.

Why does Cushing, Oklahoma matter?

Cushing is the designated physical delivery point for NYMEX WTI crude futures. Its inventory can therefore reveal local tightness or congestion that the national crude total may hide.

Is the Cushing curve the same as available capacity?

No. The EIA series reports ending crude stocks, not a live measure of every tank’s usable working capacity. Operational minimums, leased space, and pipeline constraints also matter.

Is the API weekly crude report the same as the EIA report?

No. The American Petroleum Institute publishes a separate industry estimate. StorageCurve v1 uses the official EIA API v2 series and does not blend the two releases.

Does the crude curve include gasoline and distillate?

No. The headline US crude metric is crude oil only. Product inventories can add valuable demand context, but they are outside this focused v1 dashboard.

Where does the European gas storage data come from?

It comes from the AGSI transparency platform operated by Gas Infrastructure Europe. StorageCurve uses the EU aggregate supplied by GIE and credits the source beside the chart.

Why is European gas storage shown in TWh?

AGSI reports the EU aggregate as energy in terawatt-hours and also provides percentage fullness. TWh makes the stored energy quantity comparable through time, while fullness shows how it relates to working capacity.

Why show weekly EU data when AGSI is daily?

This product is designed for the big physical picture and comparison with weekly US releases. It keeps the last available AGSI observation in each ISO week, reducing noise and storage volume.

Can AGSI history be revised?

Yes. GIE notes that provider data can be changed, removed, or amended. The updater re-fetches history so corrected observations can replace older values without accumulating duplicate raw records.

What do confirmed and estimated AGSI statuses mean?

AGSI labels data quality as confirmed, estimated, or no data. StorageCurve retains the aggregate status internally and publishes the latest available observation with its source update time.

Does EU storage include LNG terminal inventories?

No. V1 uses underground gas storage from AGSI. LNG terminal inventory and send-out are available through GIE’s separate ALSI platform and are a possible future product.

Can I use StorageCurve as a buy or sell signal?

It should be used as one transparent physical-market input, not as a stand-alone trading signal. Storage data can be revised and does not capture every supply, demand, transport, weather, or financial-market driver.

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