Loading…
The EIA reported a 82 Bcf rise in US natural gas storage for the week ended May 27, slightly below the 85 Bcf analyst forecast. Total stocks reached 2.907 Tcf, 753 Bcf above the five-year average.
July futures rose 2 cents to $2.402.
Storage builds larger than the five-year average signal an ample supply cushion, which limits upside for NATGAS prices.
foxbusiness.comMyra P. SaefongJun 2, 2016After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.
