Natural Gas Up 30% in May: What Does the Future Look Like?

The U.S. Energy Department's weekly inventory release showed that natural gas supplies increased more than expected. The bearish inventory numbers notwithstanding, futures settled with a gain week over week on signs of production pullback, resurgence of LNG exports and robust summer demand. The latest increase puts total natural gas stocks at 2,795 Bcf, which is 380 Bcf (15.7%) above the 2023 level and 586 Bcf (26.5%) higher than the five-year average. The total supply of natural gas averaged 105.4 Bcf per ...