The Energy Information Administration (EIA) reported a 98 Bcf injection into natural gas storage inventories for the week ending June 21, snapping a string of triple-digit builds dating back to mid-May and delivering the tightest stat of the summer so far.
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After weeks of softening for natural gas forwards, prices bounced back during the April 4-10 period as production remains down from earlier post-winter highs. May prices rose an average of 4 cents, while June rose a nickel, according to NGI’s Forward Look.
Another bullish miss on Thursday from the Energy Information Administration’s (EIA) weekly natural gas storage report failed to spark much of a rally as the market continues to count on production replenishing stockpiles once summer heat subsides.
The Energy Information Administration’s (EIA) weekly natural gas storage report missed to the low side of most estimates Thursday, but that didn’t seem to catch futures traders by surprise as prompt-month prices fell on the news.
The August natural gas futures contract was set to open Thursday slightly higher at around $2.985/MMBtu, with prices supported by heat in the forecast as the market turns its attention to the 10:30 a.m. EDT release of weekly government storage data.
The Energy Information Administration (EIA) on Thursday reported a below-consensus natural gas storage build for the week ended June 22, but prompt month futures pulled back a few cents as the market reacted to a revision that increased the prior week’s reported net build by 4 Bcf.
The Energy Information Administration (EIA) on Thursday reported a natural gas storage injection that confirmed consensus estimates for a larger-than-average build shy of the triple-digit mark, and futures gained a few cents on the news.
The Energy Information Administration (EIA) on Thursday reported a triple-digit weekly natural gas storage injection that fell right in line with expectations, leaving the bears and bulls to continue tussling over a range-bound market.
The Energy Information Administration (EIA) on Thursday reported a weekly natural gas storage injection that came in on the low side of expectations, and futures picked up some bullish momentum on the news.
June natural gas was set to open Thursday near even at around $2.753/MMBtu, with the market turning its attention to the 10:30 a.m. ET release of government storage data, which may finally usher in the start of injections.