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July Natural Gas Futures Pressed By Robust Supplies - Natural Gas Intelligence

Natural Gas Intelligence · last updated

July Natural Gas Futures Pressed By Robust Supplies - Natural Gas Intelligence

Natural gas futures clawed out a slim gain on Thursday after a government inventory report exceeded expectations and left supplies in storage at a hefty surplus to historic averages. Following a 10.5-cent rally in the prior session, the July Nymex gas futures contract on Thursday added a 1.1-cent day/day gain and settled at $2.608/MMBtu. August rose 2.7 cents to $2.704.

At A Glance:

- EIA prints 95 Bcf injection
- Production ticks back up
- Southern demand strong

NGI’s Spot Gas National Avg. advanced 13.0 cents to $2.235, boosted by price strength in the West and Texas.

Current production levels and weather demand were in play Thursday, but prices dropped in morning trading after the U.S. Energy Information Administration (EIA) printed a 95 Bcf increase in natural gas storage...

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