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Natural Gas Futures, Spot Prices Sputter as Demand Eases - Natural Gas Intelligence naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
The natural gas storage report from the EIA for the week ending April 30th indicated that the amount of natural gas held in underground storage in the US rose by 60 billion cubic feet to 1,958 billion cubic feet by the end of the week, which left our gas supplies 345 billion cubic feet, or 15.0% below the 2,303 billion cubic feet that were in storage on April 30th of last year, and 61 billion cubic feet, or 3.0% below the five-year average of 2,019 billion cubic feet of natural gas that have been in storage as of the 30th of April in recent years..the 60 billion cubic feet that were added to US natural gas storage this week was more than the average forecast of a 51 billion cubic foot addition from an S&P Global Platts survey of analysts, but was well below the average addition of 81 billion cubic feet of natural gas that have typically been injected into natural gas storage during the same week over the past 5 years, as well as well below the 103 billion cubic feet added to natur ....
June Natural Gas Futures Retreat Despite Favorable Inventory Result Futures fell for a second consecutive session EIA reported a storage injection of 60 Bcf Export levels to Mexico held strong Natural gas futures slipped lower for a second consecutive session on Thursday, despite a bullish government inventory print and continued robust demand for both U.S. liquefied natural gas (LNG) and pipeline exports. The June Nymex contract fell 1.0 cent day/day and settled at $2.928/MMBtu. The contract lost 2.9 cents on Wednesday. July shed eight-tenths of a cent to $2.974 on Thursday. NGI’s Spot GasNational Avg. declined 5.5 cents to $2.705. The prompt month has repeatedly bumped up against the $3.00 threshold in recent sessions but failed to close above it. Futures remain well off the 2021 high of $3.316 reached in February amid the spike in demand caused by Winter Storm Uri. However, they are well above the spring season low near $2.450 early last month. ....