The EIA reported a net gas INJECTION of +2 BCF this morning for the week ending March 31st. This week’s report was below the market’s expectation which was centered around a +7 BCF. It is bullish against +6 BCF injection in this same week last year and bearish to the five-year average for this week which is a withdraw of -13 BCF.
May 2017 NYMEX natural gas futures are currently $0.05/MMBtu higher at $3.31/MMBtu. The 12 month strip price is up $.03 at $3.46/MMBtu.
Natural gas inventories currently stand at 2,051 BCF.