Market Highlights:
Natural gas storage
Net injections into storage totaled 73 Bcf for the week ending June 12, compared with the five-year (2021–2025) average net injections of 73 Bcf and last year’s net injections of 97 Bcf during the same week.
Working natural gas stocks totaled 2,759 Bcf as of Friday, June 12, according to EIA estimates. Stocks were 151 Bcf (6%) more than the five-year average and 29 Bcf (1%) lower than last year at this time.
Natural gas prices
The Henry Hub spot price rose $0.06/MMBtu to $3.32/MMBtu yesterday. The average monthly price through June 17 is $0.62/MMBtu (17%) below the previous five-year average price for June. Total natural gas consumption increased by 1.8 Bcf/d (2%), led by a 1.9 Bcf/d (5%) increase in the electric power sector that outweighed minor decreases in other sectors. Last Friday, natural gas demand in the power sector reached its highest point since last January, according to LSEG Data. Above-average temperatures on the East and West coasts increased demand for space cooling. The total U.S. natural gas supply remained largely unchanged, averaging 109.3 Bcf/d, as a slight increase in net imports from Canada offset a slight decrease in dry natural gas production.
Liquefied Natural Gas (LNG)
For the week ending June 17: The LNG-carrying capacity of vessels departing U.S. ports was 133 Bcf, up 4 Bcf from the previous week. Thirty-six LNG vessels left U.S. ports, up two vessels from the previous week. Eight vessels departed from Sabine Pass, seven each from Corpus Christi and Plaquemines, four from Freeport, three each from Calcasieu Pass and Cameron, and two each from Cove Point and Elba Island.