The Energy Information Administration (EIA) reported a 76 Bcf injection into natural gas storage inventories for the week ending Sept. 25, a figure that offered no surprises to the market but initially knocked prices down a couple of notches.

storage sept. 25

The November Nymex gas futures contract was trading about 5.5 cents lower in the minutes leading up to the EIA’s 10:30 a.m. ET report and dropped another 1.6 cents to $2.455/MMBtu as the print hit the screen. By 11 a.m., the market settled and the prompt month moved back up to $2.487, which was still off 4.0 cents from Wednesday’s close.

Ahead of the EIA report, a Bloomberg survey found estimates ranging from 75 Bcf to 86 Bcf, with a median of 78 Bcf, while a Reuters poll found estimates of 74-92 Bcf and a median of 76 Bcf.

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