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Underlying Support Bolsters Natural Gas Futures Despite Looser Supply, Demand Balance

Natural Gas Intelligence · last updated

April Nymex natural gas futures turned higher on its final day as the lead contract Thursday despite a loosening supply and demand balance signaled by an anticipated storage injection reported by the U.S. Energy Information Administration (EIA).

Natural Gas Intelligence's (NGI) U.S. Energy Information Administration natural gas storage chart.

At A Glance:

  • EIA reports 37 Bcf storage build
  • Futures sink in knee-jerk response
  • Reversal higher reflects underlying support