The U.S. Energy Information Administration (EIA) reported an injection of 96 Bcf natural gas into storage for the week ended May 19. The result marked a second-consecutive bullish print relative to market expectations, but it was on par with the five-year average and left Nymex natural gas futures languishing.

After rising 7.7 cents on Wednesday, the June Nymex futures contract was down 2.3 cents at $2.543/MMBtu prior to the 10:30 a.m. ET inventory report.  

The prompt month fell further to $ 2.510 when the EIA data was released. By about 11 a.m., it was down 7.7 cents to $2.489.

[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...