Natural gas futures remained lower through midday trading Thursday as the latest U.S. Energy Information Administration (EIA) storage report underwhelmed, confirming further expansion of an already sizable Lower 48 inventory surplus. Meanwhile, some late-season chills for northern portions of the country failed to prevent falling physical prices.

Here’s the latest:

  • April Nymex contract trading at $1.681/MMBtu as of 2:03 p.m. ET, off 1.8 cents

The front month dropped as low as $1.651 around noon ET before recovering a few cents. The May contract was trading fractionally lower at $1.836.

  • Reported 7 Bcf injection for week ended March 15, close to expectations
  • Lower 48 storage at 2,332 Bcf, 41.0% above five-year average
  • ICE End of Draw Index recently quoted at 2,275...