Henry Hub prompt gas traded near $3.08-3.14/MMBtu on June 11-12, while the front-month NYMEX contract held around $3.22/MMBtu. The market is holding above the May average of about $2.94/MMBtu, but the latest storage print has capped upside momentum.
EIA reported a 108 Bcf injection into U.S. working gas storage for the week ended June 5. That build was larger than many traders expected and lifted working inventories to roughly 2.69 Tcf, about 6-6.5% above the five-year seasonal average.
The price signal is mixed. Near-term supply is comfortable, but LNG export growth and data-center power burn keep the 2H26 balance tighter than the current storage surplus suggests. EIA projects the Henry Hub average near $3.34/MMBtu in 2H26.
For buyers, the storage build argues against chasing a short weather rally. The stronger hedge is to separate near-term inventory risk from forward LNG and power-demand exposure.
Use the storage build to avoid overpaying for weather spikes. Keep separate coverage for LNG and power-demand exposure later in the year.