The Energy Information Administration (EIA) on Thursday reported a 79 Bcf injection into U.S. natural gas storage for the week ended Nov. 4, largely confirming market expectations for a plump, deficit-shrinking build following mild early winter weather.

Natural Gas Storage

The print initially elicited a muted reaction from futures traders, though prices advanced following the report.

In the half hour leading up to EIA’s 10:30 a.m. ET release, the December Nymex contract traded both sides of the $6/MMBtu mark, between $5.960 and $6.030. As the 79 Bcf figure crossed trading screens, the front month briefly popped to as high as $6.086 before receding to hover around $6 over the next few minutes.

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