Natural gas futures were slightly higher through midday trading Thursday, supported in part by an on-target government inventory report that showed a modestly shrinking surplus.

Here’s the latest:

  • May Nymex futures were up 3.9 cents to $1.751/MMBtu as of 2:23 p.m. ET

The Energy Information Administration (EIA) reported a 50 Bcf injection into natural gas inventories for the week ending April 12. The build was in line with the 44-57 Bcf range of estimates ahead of the report. However, it was was less than the five-year average increase of 61 Bcf and the year-ago injection of 61 Bcf. Total working gas in storage remained 622 Bcf above the five-year average of 1,711 Bcf, but this is down from 633 Bcf the prior week.

  • Mountain stocks at a staggering 86% surplus to five-year...