Natural gas futures erased the previous session’s gains early Friday as traders continued to mull the balance implications of a bullish miss in the latest government inventory data. After climbing 3.3 cents on Thursday, the August Nymex contract was down 4.3 cents to $2.658/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The Energy Information Administration (EIA) on Thursday reported 76 Bcf injection into U.S. natural gas storage facilities for the week ending June 23, bullish versus pre-report expectations for a build in the low 80s Bcf. 

Total Lower 48 working gas in underground storage stood at 2,805 Bcf as of June 23, or 358 Bcf (plus 14.6%) higher than the five-year average, according to EIA.

“This week’s miss was primarily located in the South Central, where the majority of the...