As natural gas traders and analysts continued to assess balances following a surprisingly lean weekly storage build in the latest government inventory report, futures advanced beyond the $8.00 mark early Friday. 

NGI Morning Natural Gas Price & Markets Coverage

The August Nymex contract was up 14.8 cents to $8.080/MMBtu as of around 8:40 a.m. ET.

The Energy Information Administration (EIA) on Thursday reported a 32 Bcf injection into U.S. natural gas storage during the week ended July 15, a print that came in well to the bullish side of surveys suggesting an injection in the mid- to high-40s Bcf.

Total Lower 48 natural gas in storage exited the report period at 2,401 Bcf, lagging the five-year average by 328 Bcf, or minus 12.0%, according to EIA.

“On a weather-adjusted basis, we estimate the market was about 3 Bcf/d...