
U.S. and European natural gas futures moved lower after the EIA reported a 77-billion-cubic-foot injection into U.S. underground storage. U.S. inventories reached 3.801 trillion cubic feet, 54 billion cubic feet above the five-year seasonal average.
Above-average U.S. stocks reduce near-term concern about domestic supply and weigh on U.S. gas prices; the effect on European prices is less direct. The inventory increase adds a bearish signal to the market.
After 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.