Market Highlights:
Natural gas storage
Net injections into storage totaled 103 Bcf for the week ending April 17, compared with the five-year (2021–2025) average net injections of 64 Bcf and last year’s net injections of 77 Bcf during the same week. Working natural gas stocks totaled 2,063 Bcf as of Friday, April 17, according to EIA estimates. Stocks were 137 Bcf (7%) more than the five-year average and 142 Bcf (7%) more than last year at this time. This injection is the third largest in the month of April and the earliest net injection of over 100 Bcf on record, according to EIA data dating back to 2010.
Natural gas prices
The Henry Hub spot price rose 1 cent from $2.75/MMBtu last Wednesday to $2.76/MMBtu yesterday. Prices in April so far have averaged $2.82/MMBtu, down 17% from the April 2025 average. The Henry Hub price was the highest of major pricing hubs across the United States yesterday. Total domestic U.S. demand for natural gas increased by 4% (2.3 Bcf/d) compared with last week, according to LSEG Data. A 10% (1.5 Bcf/d) increase in residential and commercial sector consumption drove this increase. Average total supply of natural gas fell 0.7% (0.9 Bcf/d) this week due to a 0.7% (0.8 Bcf/d) decrease in dry production. U.S. temperatures were near normal this past week, with averages ranging between 40°F and 80°F.
Liquefied Natural Gas (LNG)
For the week ending April 22: The LNG-carrying capacity of vessels departing U.S. ports was 134 Bcf, up 1 Bcf from the previous week. Thirty-five LNG vessels left U.S. ports, unchanged from the previous week. Nine vessels departed from Sabine Pass, seven from Plaquemines, six from Corpus Christi, four each from Freeport and Cameron, three from Calcasieu pass, and one each from Cove Point and Golden Pass. The new Golden Pass LNG terminal exported its first cargo from Train 1 on April 22.