Nat Gas Defies History
April 18, 2022
According to last week’s EIA natural gas storage report, inventory relative to the five-year average is lower by about 300 bcf. The Henry Hub spot benchmark on the day of the report traded at $7.14/mmbtu. On 3/11/2022, the storage deficit to the five-year average was nearly the same and the spot market traded at $4.95/mmbtu. On 5/3/2019 the inventory was also a deficit of about 300 bcf and the market traded at $2.61/mmbtu.