Natural gas futures were near even ahead of today’s government inventory report. Analysts were looking for an unusually small increase – or a withdrawal from storage.
After a lengthy rally over the past two weeks, the September Nymex gas futures contract was down a penny to $2.209/MMBtu as of about 8:40 a.m. ET.
NatGasWeather said the U.S. Energy Information Administration (EIA) storage report for the week ended Aug. 9 “will be very closely watched by market participants, especially since there's potential for it to print a rare summer draw.”
