Market Highlights:
Natural gas storage
Net injections into storage totaled 59 Bcf for the week ending April 10, compared with the five-year (2021–2025) average net injections of 38 Bcf and last year’s net injections of 22 Bcf during the same week. Working natural gas stocks totaled 1,970 Bcf as of Friday, April 10, according to EIA estimates. Stocks were 108 Bcf (6%) more than the five-year average and 126 Bcf (7%) more than last year at this time.
Natural gas prices
The Henry Hub spot price fell 5 cents from $2.80/MMBtu last Wednesday to $2.75/MMBtu yesterday. Last Friday’s price of $2.65/MMBtu was the lowest since June 2025. Total U.S. demand for natural gas fell by 6.8 Bcf/d (10%) compared with last week, according to LSEG Data. Most of the decrease was due to a 6.4 Bcf/d (31%) reduction in the residential and commercial sector. Meanwhile, the average total supply of natural gas also decreased, mainly from a 1.2 Bcf/d (1%) decrease in dry production this week. On balance, average demand decreased more than supply, contributing to lower spot natural gas prices. Temperatures were warmer across the United States this past week, with above-average ranges also reported across the country. Relatively comfortable conditions in mid-April reduce natural gas demand for heating and cooling, with most states reporting temperature readings between 40°F–75°F.
Liquefied Natural Gas (LNG)
For the week ending April 15: The LNG-carrying capacity of vessels departing U.S. ports was 133 Bcf, down 7 Bcf from the previous week. Thirty-five LNG vessels left U.S. ports, down two vessels from the previous week. Nine vessels departed from Sabine Pass, six each from Corpus Christi and Plaquemines, five from Freeport, four from Cameron, three from Calcasieu Pass, and two from Cove Point.