The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 41 Bcf natural gas into storage for the week ended July 14. The result fell shy of median expectations in polls and further fueled upward momentum for Nymex natural gas futures.

Ahead of the 10:30 a.m. ET EIA report, the August futures contract was up 13.8 cents at $2.741/MMBtu amid forecasts for extreme heat through July and into next month.

The prompt month held steady at around $2.736 when the EIA data was released. By 11 a.m. ET, however, it was up 15.7 cents to $2.760.

[Land of Opportunity: Can Texas natural gas power Mexico’s nearshoring and LNG export ambitions? Possibilities abound on both sides of the border as natural gas demand continues to grow. Download this NGI Special Edition...