Working gas in storage was 2,024 Bcf as of Friday, April 3, 2020, according to EIA estimates. This represents a net increase of 38 Bcf from the previous week.
Stocks were 876 Bcf higher than last year at this time and 324 Bcf above the five-year average of 1,700 Bcf.
At 2,024 Bcf, total working gas is within the five-year historical range.
Heating season ending storage levels
> 1,107 Bcf on March 22, 2019
> 1,281 Bcf on April 20, 2018 < ngas price peaked at $4.62 on 11/25/2018, the highest Henry Hub gas price in the last five years
> 2,049 Bcf on March 24, 2017 < ngas price peaked at $3.20 on 11/5/2017 and moved up to $3.49 on 1/21/2018
> 2,468 Bcf on March 25, 2016 < ngas price peaked at $3.74 on 12/4/2016
> 1,461 Bcf on March 27, 2015
At this website, you can see what gas prices did during each of those years: https://tradingeconomics.com/commodity/natural-gas
A large amount of gas in storage at the end of the heating season does depress the gas price until summer heat arrives. With 70% fewer well completions this year, ngas supply/demand should tighten up this year.
EIA - Natural Gas Storage Report - April 9
EIA - Natural Gas Storage Report - April 9
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group