Utilities injected 79 Bcf of natural gas into storage for the week ended May 3, the U.S. Energy Information Administration (EIA) reported on Thursday. The result was nearly in line with historical norms but lower than the median of expectations. This added to upward momentum for Nymex natural gas futures.

About 30 minutes ahead of the 10:30 a.m. ET government print, the June futures contract was up 3.8 cents at $2.225/MMBtu. The prompt month advanced further to around $2.277 when the EIA data was released. By 11 a.m. ET, it was up 9.1 cents to $2.278.

If sustained through Thursday’s session, it would mark the fifth gain in six days. There “is a palpable sense that depressed natural gas pricing is beginning to turn the corner,” analyst Eli Rubin of EBW Analytics Group...