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Nat Gas Defies History

April 18, 2022

Natural Gas Graph

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.