Happy Storage Day

The EIA’s storage report for the week ending May 2, 2025 came in as an injection of +104 Bcf into the lower 48’s storage, slightly above the expected +99 Bcf. At this point, it’s safe to say that injection season is here. Storage levels are still riding the 5-year average (currently there is 2,145 Bcf in the ground, the 5-year average being 2,115 Bcf). A good position to be in this time of year! Temperatures in the US and Canada are still riding the average too, with Canada expected to get go warmer then normal next week.

The NYMEX was relatively unchanged today, with futures settling only a cent or two down from yesterday.