The EIA reported a gas storage injection of 68 BCF on Thursday for the week ending May 12, 2017. This week’s report was just above the market’s expectation which was centered around a 66 BCF injection.
June 2017 NYMEX natural gas futures are currently $0.02/MMBtu higher at $3.22/MMBtu. Gas futures remain above $3.00 after running up above $3.40 at the end of last week and then lowering back down to $0.23/MMBtu over the previous three trading sessions of this week.
Natural gas inventories currently stand at 2,369 BCF which is 375 BCF less than from this same week last year and 256 BCF above the five year average.