Market Highlights:
Natural gas storage
Net injections into storage totaled 101 Bcf for the week ending May 15, compared with the five-year (2021–2025) average net injections of 92 Bcf and last year’s net injections of 119 Bcf during the same week. Working natural gas stocks totaled 2,391 Bcf as of Friday, May 15, according to EIA estimates. Stocks were 149 Bcf (7%) more than the five-year average and 33 Bcf (1%) more than last year at this time.
Natural gas prices
The Henry Hub spot price rose $0.31/MMBtu from $2.88/MMBtu last Wednesday to $3.19/MMBtu yesterday. This week, Henry Hub prices were among the highest in the country as temperatures remained elevated compared with other regions. Temperatures across most of the United States were slightly above average this week. Total U.S. natural gas consumption decreased by 0.9 Bcf/d (1%) compared with last week, according to LSEG Data. This decrease was due to a 1.6 Bcf/d (14%) drop in the residential and commercial sectors, which outweighed a 1.0 Bcf/d (3%) increase from the electric power sector. Total U.S. natural gas supply also fell slightly by 0.2 Bcf/d (less than 1%), according to data from LSEG, due to a small reduction in net Canadian imports into the United States.
Liquefied Natural Gas (LNG)
For the week ending May 20: The LNG-carrying capacity of vessels departing U.S. ports was 128 Bcf, down 13 Bcf from the previous week. Thirty-four LNG vessels left U.S. ports, down three vessels from the previous week. Vessel departures declined amid liquefaction plant and pipeline maintenance activities that restricted output at some U.S. terminals. Eight vessels departed from Sabine Pass, seven from Plaquemines, six from Corpus Christi, four from Cameron, three each from Calcasieu Pass and Freeport, two from Elba Island, and one from Cove Point.