U.S. Natural Gas Prices Fall in Week Ended April 29, EIA Reports
The U.S. benchmark Henry Hub natural gas spot price fell US$0.16 to $2.60/million British thermal units in the week ended April 29, the U.S. Energy Information Administration said in its Weekly Natural Gas Storage Report Supplement released Thursday.Total U.S. natural gas demand declined 2%, LSEG Data showed, driven by lower residential and commercial consumption despite an increase in natural gas use in the electric power sector, the EIA reported.Natural gas supply edged lower by 0.3% due to a decrease in dry production, according to the agency.Net injections into storage amounted to 79 billion cubic feet in the week ended April 24, resulting in total working gas stocks of 2,142 Bcf, according to EIA estimates. This was 153 Bcf more than the five-year average and 116 Bcf more than the year-ago period.For the week ended April 29, the liquefied natural gas-carrying capacity of vessels departing the U.S. was 133 Bcf, down 1 Bcf week over week, the EIA reported. Thirty-five LNG vessels left the U.S., unchanged from the previous week.