The Energy Information Administration (EIA) confirmed much tighter natural gas supply/demand balances for the week ending June 18, reporting a modest 55 Bcf injection into storage.

EIA storage june 18

The latest EIA figure was well below historical levels, coming in 60 Bcf below last year’s injection and 28 Bcf below the five-year average. It also was a tick below the lowest estimate in major surveys ahead of the report.

Nymex futures immediately bounced on the news.

The July Nymex contract was trading slightly in the red at around $3.325 in the minutes leading up to the EIA report. As the print crossed trading desks, the prompt month jumped to $3.358, up 2.5 cents from Wednesday’s close. By 11 a.m., the July contract was trading at $3.367.

Bespoke Weather Services said the figure...