Oil slips as EIA gas build reinforces supply cushion
On Friday, Nov. 13, 2026, the EIA’s 61 Bcf storage build left U.S. gas inventories elevated and reinforced a comfortable supply backdrop heading into winter. WTI and Brent both eased on the day as traders weighed the stronger gas stockpile and softer crude trade.
NEW YORK, Nov. 13, 2026 (GoldSquawk) - NYMEX WTI crude futures fell 33 cents to $88.46 a barrel on Friday after the U.S. Energy Information Administration reported a 61 Bcf build in U.S. natural gas storage for the week to Nov. 6, a supply update that left gas inventories at 3,862 Bcf and 2.0% above the five-year average.
For energy traders, the report added to a broader picture of comfortable U.S. supply heading into winter. The EIA said gas stocks were 2.3% below a year earlier, and its weekly storage series put inventories at 96% of the past year's range after 33 straight weekly increases.
Storage build keeps gas inventories elevated
The EIA's weekly report put working gas in underground storage in the lower 48 states at 3,862 Bcf in the week to Nov. 6, up 61 Bcf from the prior week.
NYMEX natural gas futures fell 11.1 cents to $3.230 per MMBtu on Friday, after rising 13.4 cents to $3.341 on Thursday, according to GoldSquawk settlement data.
The latest storage figure also left inventories near the top of their one-year range. EIA data compiled by GoldSquawk showed the latest reading at 96% of that range, with storage rising in each of the past 33 weeks.
The gas report was released on Friday rather than Thursday because the EIA scheduled it for 10:30 a.m. Eastern time following the Veterans Day holiday timing, according to the agency's 2026 release calendar.
Warm weather and stronger output remain the backdrop
The storage build fit an outlook the EIA published earlier in the week. On Tuesday, Nov. 10, 2026, the agency said a warm start to November was pushing U.S. natural gas prices lower and raised its expected end-November storage level to 3,840 Bcf, 67 Bcf above its prior forecast.
That November Short-Term Energy Outlook assumed 13% fewer heating degree days in November than the 10-year average and forecast Henry Hub spot prices to average $2.87 per MMBtu from November through March, 16% lower than in the prior forecast, the EIA said.
Reuters reported on Thursday, Nov. 12, 2026, that December NYMEX gas fell after updated U.S. weather forecasts pointed to seasonal temperatures. Reuters also said the EIA's Tuesday STEO raised its 2026 U.S. gas production estimate to 113 Bcf per day from 112.2 Bcf per day and noted that money managers had built a record net short in New York natural gas futures in the prior Commitments of Traders report.
Oil trade stays softer through the session
In the oil market, WTI was at $89.22 a barrel at 15:25 UTC, just before the storage release, after reaching $89.54 at 15:05 UTC. WTI later fell to $88.25 at 16:57 UTC and was trading at $88.73 by 20:20 UTC, according to GoldSquawk price data.
Brent crude fell 13 cents to $95.75 a barrel on Friday after rising $3.26 to $95.88 on Thursday, according to GoldSquawk settlement data.
The latest weekly EIA balances for the same Nov. 6 week also put U.S. commercial crude stocks at 414.4 million barrels, up 4.66 million on the week, gasoline stocks at 210.8 million barrels, up 1.80 million, and Cushing crude inventories at 27.4 million barrels, up 0.11 million.
By 20:20 UTC, WTI was at $88.73 a barrel.
Key data
| Measure | Value | Source |
|---|---|---|
| U.S. natural gas storage | 3,862 Bcf | US Energy Information Administration, via GoldSquawk data |
| WTI latest | 88.73 | NYMEX WTI crude futures (GoldSquawk data) |
How the story unfolded
- Nov. 13, 2026, 15:30 GMT · EIA US NATURAL GAS STORAGE +61 BCF W/W TO 3,862 BCF (WEEK TO NOV 6) | +2.0% VS 5-YEAR AVERAGE, -2.3% Y/Y (US Energy Information Administration)
Primary sources
- US Energy Information Administration · EIA US NATURAL GAS STORAGE +61 BCF W/W TO 3,862 BCF (WEEK TO NOV 6) | +2.0% VS 5-YEAR AVERAGE, -2.3% Y/Y
- U.S. Energy Information Administration · Weekly Natural Gas Storage Report Schedule
- U.S. Energy Information Administration · EIA raises November natural gas storage forecast after warm start to month
- U.S. Energy Information Administration · Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)
- GoldSquawk data: US natural gas storage (US Energy Information Administration); Speculative positioning (CFTC Commitments of Traders); US crude stocks (US Energy Information Administration); US gasoline stocks (US Energy Information Administration)
General market commentary only. Not financial advice.