Market Highlights:
Natural gas storage
Net injections into storage totaled 63 Bcf for the week ending May 1, compared with the five-year (2021–2025) average net injections of 77 Bcf and last year’s net injections of 104 Bcf during the same week. Working natural gas stocks totaled 2,205 Bcf as of Friday, May 1, according to EIA estimates. Stocks were 139 Bcf (7%) more than the five-year average and 75 Bcf (4%) more than last year at this time.
Natural gas prices
The Henry Hub spot price rose 15 cents from $2.60/MMBtu last Wednesday to $2.75/MMBtu yesterday. Total U.S. Lower 48 demand for natural gas averaged 57.7 Bcf this past Monday, according to LSEG Data, the lowest of 2026 to date. Slightly cooler-than-normal temperatures across most of the country helped limit heating and cooling needs. Total U.S. natural gas demand across sectors excluding LNG fell by 0.7 Bcf/d (1%) compared with last week, according to LSEG Data. This decrease was led by a 1.2 Bcf/d (4%) decrease in power sector consumption. LNG feedgas averaged 17.4 Bcf/d over the past week, a 7% (1.2 Bcf/d) decrease compared with last week per LSEG Data, in part due to planned maintenance at various terminals.
Liquefied Natural Gas (LNG)
For the week ending May 6: The LNG-carrying capacity of vessels departing U.S. ports was 115 Bcf, a decrease of 18 Bcf from the previous week. Thirty vessels left U.S. ports, down five vessels from last week. Seven vessels each left from Plaquemines and Sabine Pass, five from Corpus Christi, four from Freeport, three from Calcasieu Pass, and two each from Cameron and Cove Point.