Market Highlights:
Natural gas storage
Net injections into storage totaled 85 Bcf for the week ending May 8, compared with the five-year (2021–2025) average net injections of 84 Bcf and last year’s net injections of 109 Bcf during the same week. Working natural gas stocks totaled 2,290 Bcf as of Friday, May 8, according to EIA estimates. Stocks were 140 Bcf (7%) more than the five-year average and 51 Bcf (2%) more than last year at this time.
Natural gas prices
The Henry Hub spot price rose 13 cents per million British thermal units (MMBtu) from $2.75/MMBtu last Wednesday to $2.88/MMBtu yesterday. Temperatures varied across the country this week but remained near normal overall, limiting heating and cooling needs. Slightly cooler-than-normal temperatures in the eastern United States stood in contrast to slightly warmer-than-normal temperatures in the West. Total U.S. natural gas demand fell slightly by 0.5 Bcf/d (1%) compared with last week, according to LSEG Data. This was led by a 1.8 Bcf/d (13%) decrease in residential and commercial consumption and a 0.5 Bcf/d (2%) decrease in the industrial sector. Meanwhile, electric power sector demand increased by 1.8 Bcf/d (6%). Total supply increased by 1.0 Bcf/d (1%), led by a 1.0 Bcf/d (1%) increase in dry natural gas production, according to LSEG Data.
Liquefied Natural Gas (LNG)
For the week ending May 13: The LNG-carrying capacity of vessels departing U.S. ports was 141 Bcf, up 26 Bcf from the previous week. Thirty-seven LNG vessels left U.S. ports, up seven vessels from the previous week.
Ten vessels departed from Sabine Pass, eight from Plaquemines, five each from Corpus Christi and Freeport, three each from Calcasieu Pass and Cameron, two from Cove Point, and one from Golden Pass.