EIA Natural Gas Storage Report - April 10

[dan_s]

Working gas in storage was 1,830 Bcf as of Friday, April 4, 2025, according to EIA estimates.
This represents a net increase of 57 Bcf from the previous week. < Agrees with CelsiusEnergy's forecast.
Stocks were 450 Bcf less than last year at this time and 40 Bcf below the five-year average of 1,870 Bcf.
At 1,830 Bcf, total working gas is within the five-year historical range.

CelsiusEnergy's forecast for the week ending April 11 is a small increase of 10 Bcf, which is 42 Bcf below the 5-year build.

Some of the largest storage increases of the year are in April and May.

Trading Economics:
"US natural gas futures dropped to $3.61/MMBtu on Thursday, reversing Wednesday’s 10% surge, as traders reassessed fundamentals and reacted to shifting US trade policy.
> Mild weather and weak demand in March led to a rare storage build for that month, something that’s only happened once before, in 2012.
> Forecasts show near-normal temperatures in most of the US through late April, limiting heating demand.
> Still, LNG exports remain strong, averaging 16.0 bcfd so far in April, slightly above March’s record. < LNG exports should keep increasing as natural gas prices in Asia and Europe are $12.77 and $11.62.
> Meanwhile, gas output dipped slightly from March’s record, suggesting tightening supply.
> Energy firms may slow oil drilling as crude prices hit four-year lows.

Price volatility will continue, but utilities will struggle to refill storage before the next winter heating season arrives AND the demand for U.S. natural gas is much higher than it was five years ago. Measured on "Days of Demand", the storage level is very low.