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The EIA reported a 28 Bcf injection into US natural gas storage for the week to July 14, below analyst expectations. Working gas stood at 2,973 Bcf, 141 Bcf above the five-year average.
Front-month August futures rose slightly to about US$3.08/MMBtu.
A smaller-than-expected storage build signals firmer near-term demand, which supports gas prices and in turn US energy and fertilizer input costs.
oilprice.comTsvetana ParaskovaJul 20, 2017After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
