Unusual Fundamentals Welcome April
March 30, 2020
US natural gas stocks are 888 bcf above last year at this point and are set to enter the injection season at 2,000 bcf. It’s the first time in three years that we enter the cooling season (injections) with stocks that are above the five-year average. Although April-October is traditionally injection season, April is the traditional injection month with the most instances of net withdrawals.