The U.S. Energy Information Administration (EIA) reported an injection of 110 Bcf natural gas into storage for the week ended May 26. The result came in above median estimates and drove Nymex natural gas futures deeper into the red.

The inventory increase, driven by steady production volumes above 100 Bcf/d and modest demand on both the domestic weather and LNG export fronts, kept inventories well above average levels.

Ahead of the 10:30 a.m. print, the July Nymex natural gas futures contract was down 7.5 cents to $2.191/MMBtu. When the latest data crossed the wires, the prompt month fell further to $2.164. By 11 a.m., it was down 11.3 cents to $2.153.  

[Market Dynamics: Listen in as NGI digs into the myriad pieces that make up the winter supply/demand puzzle and how they...