Natural gas futures faltered on Thursday, driven lower by a robust inventory injection that reflected strong production and anemic demand. The July Nymex gas futures contract, which has lost ground each day this week, dropped 10.8 cents day/day and settled at $2.158/MMBtu.. August lost 8.5 cents to $2.273.

At A Glance:

  • EIA posts 110 Bcf injection
  • Prompt month sheds 10.8 cents
  • Weak fundamentals persist

NGI’s Spot Gas National Avg. shed 39.5 cents to $1.700.

The U.S. Energy Information Administration (EIA) reported an injection of 110 Bcf into storage for the week ended May 26. The result came in above median estimates in polls that coalesced around 107 Bcf. NGI had modeled an on-target 110 Bcf increase.

The result far exceeded the year-earlier build of 82 Bcf and the...