Natural gas futures fall as EIA storage report exceeds estimates
Friday, June 3, 2022
Natural gas features fell Thursday after the latest Energy Information Administration data revealed looser storage balances, according to Natural Gas Intelligence.
July Nymex gas futures finished 21.1 cents lower at $8.485/MMBtu and August futures dropped 21.2 cents to $8.474/MMBtu. However, spot prices continued to climb as Natural Gas Intelligence’s Spot Gas National Average showed a 17.5-cent increase to $8.375/MMBtu.
Simultaneously, the latest storage figures showed supplies are starting to loosen. The EIA reported a larger build than expected earlier in the week with a 90 Bcf injection into natural gas storage for the week ending May 27.
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