August Natural Gas Futures Rally After Bullish Storage Print
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 10 Bcf natural gas into storage for the week ended July 12.
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 10 Bcf natural gas into storage for the week ended July 12.
Natural gas futures moved higher early Thursday as traders prepared to digest updated government inventory data for a week that took difficult-to-predict demand hits from former Hurricane Beryl and a holiday weekend.
August natural gas futures held to the downside Thursday following the U.S. Energy Information Administration (EIA) storage report for the week ending July 5, which outlined a 65 Bcf build, in line with the high end of expectations and above historical averages.
Natural gas futures traded lower early Thursday as traders awaited updated government inventory data and whether the third largest U.S. LNG terminal was close to restarting.
Working natural gas in storage is on the cusp of topping out in Alberta, the Canadian province with the largest capacity.
The U.S. Energy Information Administration (EIA) on Wednesday reported a 32 Bcf build of natural gas in storage for the week ended June 28. The result was within the expected range, and included a bearish revision for the prior week, limiting support for Nymex futures.
Stout Canadian supplies of natural gas in storage following a mild winter and robust levels of production continue to pressure prices north of the U.S. border.
Natural gas prices advanced in July bidweek trading as forecasts called for strong early summer heat to further intensify and cover more of the Lower 48 in the month ahead, offsetting rising production volumes and stout supplies in storage.
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 52 Bcf natural gas into storage for the week ended June 21. The result was in line with expectations and left Nymex natural gas futures searching for direction.
The U.S. Energy Information Administration (EIA) on Friday reported an injection of 71 Bcf of natural gas into storage for the week ended June 14. The result modestly exceeded expectations, but fell shy of historic norms, leaving Nymex natural gas futures treading lightly.