High natural gas production and storage injections in September drove U.S. prices down

Injections into U.S. working natural gas storage in the Lower 48 states during the 2022 injection season (April through October) have brought storage levels back near historical averages. The overall increase in natural gas storage was driven primarily by five consecutive triple-digit increases in September and early October. U.S. natural gas injections totaled 427 billion cubic feet (Bcf) in September—a month that included the second-largest weekly net injection on record during the week ending September 30 (129 Bcf), according to data from our Weekly Natural Gas Storage Report (WNGSR), a report that dates back to 1993. In September, reduced seasonal demand and strong natural gas production led to more natural gas injections into underground storage and lower natural gas spot prices..