US natural gas futures traded near a three‑week high around $2.76 per MMBtu, supported by an in-line storage build, lower production, and near-record LNG exports. The EIA reported a 79 Bcf injection into storage for the week ended April 24, broadly matching expectations for an 80 Bcf build and coming in below both the prior week’s 103 Bcf addition and the 105 Bcf increase recorded a year earlier.
On the supply side, output continued to soften, declining by roughly 2.0 bcfd over the past five days to a preliminary 12‑week low of 107.6 bcfd, as major producers such as EQT curtailed production in response to weak prices. At the same time, LNG export feedgas demand rose to 18.8 bcfd so far in April, up from 18.6 bcfd in March and surpassing the previous monthly record of 18.7 bcfd set in February.
Even with these supportive factors, US gas prices fell 4.1% in April, pressured by comfortable storage levels and mild weather, after posting a modest gain of nearly 1% in March.
