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Net withdrawals from storage totaled 54 Bcf for the week ending
March 20, compared with the five-year (2021–2025) average
net withdrawals of 21 Bcf and last year’s net injections of 33
Bcf during the same week. -
Working natural gas stocks totaled 1,829 Bcf as of Friday, March
20, according to EIA estimates. Stocks were 14 Bcf (1%) more
than the five-year average and 90 Bcf (5%) more than last year
at this time. -
The average rate of withdrawals from storage is 8% higher than
the five-year average so far in the withdrawal season (November
through March). If the rate of withdrawals from storage matched
the five-year average of 0.3 Bcf/d for the remainder of the
withdrawal season, the total inventory would be 1,832 Bcf on
March 31, which is 14 Bcf higher than the five-year average of
1,818 Bcf for that time of year.
Data source: U.S. Energy Information Administration, Form
EIA-912, Weekly Natural Gas Storage Report
Note: Totals may not equal the sum of components
because of independent rounding.
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Most storage regions reported net withdrawals for the week
ending March 20, with the East region withdrawing the most
from storage, down 31 Bcf to 271 Bcf. -
The Mountain and Pacific regions’ stocks sit at
surpluses of 67.2% and 53.9%, respectively, versus five-year
norms. East, Midwest, and South Central regional inventories,
meanwhile, remain at deficits.
Natural gas prices
Data source: Natural Gas Intelligence
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The Henry Hub spot price fell 22 cents this week to
close at $2.92/MMBtu yesterday, after averaging
$3.01/MMBtu over this report week. Henry Hub spot
prices have remained near $3.00/MMBtu since
mid-February due to declining residential and
commercial demand. -
Warmer temperatures in the West were offset by near-normal
temperatures in the Midwest and eastern United States,
continuing to support prices that have been largely
flat over the past month. Total U.S. consumption of
natural gas in the residential and commercial sectors
fell 11.4 Bcf/d compared with last week, according to
LSEG Data.
Data source: Natural Gas Intelligence
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Natural gas spot prices fell at most regional hubs this
report week, ranging from a decrease of 92 cents at
Algonquin Citygate to an increase of 57 cents at the Waha
Hub. -
Prices rose at the Waha Hub this week yet remained negative.
Robust Permian production and pipeline capacity take-away
constraints have supported negative prices at the hub for
82% of trading days so far in 2026. Texas reported 109 more
cooling degree days (CDDs) this week compared with last. In the power
sector, the Electric Reliability Council of Texas (ERCOT)
supplied 20% more natural gas-fired generation compared with
last week. Overall, total natural gas use in Texas was down
0.9 Bcf/d, according to LSEG Data, as the residential and
commercial sectors used less for heating.
Data source: CME Group as compiled by Bloomberg, L.P.
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The price of the April 2026 NYMEX contract decreased 11
cents, from $3.065/MMBtu last Wednesday to $2.952/MMBtu
yesterday. -
The price of the 12-month strip averaging April 2026 through
March 2027 futures contracts fell 11 cents to $3.669/MMBtu.
The 12-month strip reported weekly losses for contracts
across 2026, averaging 10–12 cent declines, with lower
losses in early 2027.
Liquefied Natural Gas (LNG)
Data source: Vortexa Analytics tanker tracker
- For the week ending March 25:
-
The LNG-carrying capacity of vessels departing U.S.
ports was 134 Bcf, up less than 1 Bcf from the
previous week. -
Thirty-five LNG vessels left U.S. ports, the same
number as the previous week. -
Nine vessels departed from Sabine Pass, seven from
Plaquemines, five each from Corpus Christi and
Freeport, four from Cameron, three from Calcasieu
Pass, and two from Cove Point.
Data source: Bloomberg Finance, L.P.
- For the week ending March 25:
-
The price at the Title Transfer Facility in Europe
averaged $19.35/MMBtu, $1.96 higher than the previous
week. -
The Japan-Korea Marker price averaged $21.11/MMBtu, $2.88
higher than the previous week.
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