EIA Natural Gas Storage as of 4/10/26, as reported 4/16/26
*Working gas in storage was 1,970 Bcf as of Friday, April 10, 2026, according to EIA estimates. This represents a net increase of 59 Bcf from the previous week. Stocks were 126 Bcf higher than last year at this time and 108 Bcf above the five-year average of 1,862 Bcf. At 1,970 Bcf, total working gas is within the five-year historical range.
The NYMEX May contract closed at $2.61/MMBtu yesterday, a $0.01/MMBtu increase from Tuesday’s close. This week, May has averaged $2.61/MMBtu, around $0.13/MMBtu below last week’s average of $2.74/MMBtu. It is trading at $2.64/MMBtu, up $0.03/MMBtu from the previous day’s close. Natural gas fundamentals remain mixed heading into late spring. Production was revised higher to 109.3 Bcf/d, though Northeast output has slipped roughly 1 Bcf/d from earlier-year highs to around 35 Bcf/d — typical shoulder-season softness ahead of the summer ramp. Demand-side support is holding up well: LNG feedgas is running near 20 Bcf/d, with Golden Pass continuing to flow despite limited capacity online; Mexican exports firmed to 6.5 Bcf/d; and weather-driven demand has strengthened meaningfully, with HDDs adding 30+ since Friday. Another cold shot moving through the East and Central US this weekend should provide a further ResComm demand boost, though the extended outlook turns bearish with minimal heating or cooling load expected through month-end.
Looking further out, the picture softens considerably. The storage surplus versus the five-year average is poised to widen materially over the next four EIA reports, and DTN is now calling for the mildest summer cooling season since 2017 as El Niño emerges by May. Combined with elevated pre-summer inventories, new Permian associated gas takeaway coming online in 3Q26, and decelerating LNG growth, the setup skews risks to the downside later this year.
*Source: U.S. Energy Information Administration (EIA) Weekly Natural Gas Storage Report
Working Gas in Underground Storage, Lower 48
Working Gas in Underground Storage vs. 5-Year Maximum and Minimum
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