• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Bigger-than-expected storage build weigh on U.S. natgas futures

April 22, 20228:02 AM Reuters0 Comments

Natural gas specialized flow meters on brick wall.

U.S. natural gas futures edged higher on Friday following a larger than expected storage build reported by a federal agency, however a forecasts for a slightly cooler than normal weather capped further decline.

Front-month gas futures were down 1.9% at $6.823 per million British thermal units as of 9:50 a.m. EDT (1350 GMT). Prices were headed for a more than 6% decline for the week after having risen for five weeks.

U.S. Energy Information Administration data on Friday showed utilities added 53 billion cubic feet (bcf) of natural gas to storage last week, compared with analysts’ expectations of a smaller-than-usual 37 bcf build.

Data provider Refinitiv estimated there would be 126 heating degree days (HDDs) over the next two weeks in the lower 48 U.S. states, slightly above the 30-year norm of 116 HDDs for this time of year. The estimate is higher than Thursday’s forecasts.

HDDs, used to estimate demand for heating of homes and businesses, measure the number of days a day’s average temperature is below 65 degrees Fahrenheit (18 Celsius).

“The market is also indicating a lessened concern over European requirements partially due to seasonal considerations,” advisory firm Ritterbusch and Associates said in a note.

“However, we still expect some heavy placement of long hedges on this price pullback as Europe attempts to wean itself away from Russian gas supply.”

Meanwhile Data from Refinitiv showed average gas output in the U.S. lower 48 states was at 94.4 billion cubic feet per day (bcfd) so far in April, down from 93.7 bcfd in March, and well below December’s monthly record of 96.3 bcfd.

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Venture Global cashes in on exports from Plaquemines LNG plant, SEC filing shows
  • Journey Energy Inc. Provides Encouraging Results from Its First Three 2025 Duvernay Wells
  • US proposes rules that could boost oil, gas output in US West
  • Ontario Premier Doug Ford pitches railway to Ring of Fire, Alberta is on board
  • Alberta to hold nuclear power consultations as reactor companies weigh opportunities

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.