EIA: NatGas Storage to Start 2026 Refill Season Up 3%


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) - U.S. natural gas inventories would likely to start the 
2026 injection season higher by 3%, the Energy Information Administration (EIA) 
said Tuesday (4/21), indicating further price softening if balances in the 
heating feedstock keep rising.

   Inventories are projected to start the refill season for the Lower 48 states 
at 1,890 billion cubic feet (Bcf) from a prior estimate of 1,833 Bcf, the EIA 
said.

   Net injections through the refill season from April through October are 
expected to leave inventories up 9% from the five-year average, the agency 
added.

   The surplus is largely driven by a 3% increase in dry natural gas production 
alongside a 1% decline in domestic consumption, the EIA said. Additionally, 
while liquefied natural gas exports were growing, they were not expanding fast 
enough to offset production gains.

   The EIA noted that rising inventories and reduced consumption for U.S. 
natural gas have already moderated prices, with benchmark futures on the Henry 
Hub averaging $3.04 per million British thermal units (MMBtu) in March, from 
averages of $7.72 MMBtu in January and $3.62 MMBtu in February.




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