Storage Injection Cycle

Inventories ended the withdrawal season at healthy levels. With production growth outpacing domestic power burn, storage injections are expected to remain above the five-year average through May, capping price upside.

LNG Export Anchor

The only major price support is the record-high feedgas flow to US LNG export terminals. Without this consistent 14 Bcf/d of export demand, analysts believe Henry Hub would be testing the $2.00 level.