Natural Gas Futures Soften Ahead of First Injection of Summer; Cash Slips Too

• BREAKING: U.S. EIA reports 25 Bcf injection
• Further tightening still said need
• Waha cash endures worst of pipe work

The Energy Information Administration (EIA) reported a 25 Bcf injection into natural gas storage for the week ending April 7, marking the first build of the summer refill season.

At A Glance:

• BREAKING: U.S. EIA reports 25 Bcf injection
• More tightening said needed
• Cash prices mostly steady

Natural gas futures prices were lower ahead of what was expected to be a build near the five-year average of 28 Bcf. The May Nymex gas futures contract was trading at $2.028/MMBtu, off 6.5 cents in the minutes leading up to the EIA report. It bounced to $2.035 as the 25 Bcf print came in. By 11 a.m. ET, the prompt month was at $2.058, down 3.5 cents from Wednesday’s...