Natural Gas Futures Surge on Bullish Storage Print and Lower-Than-Expected Supply Rise.
TL;DR
The US Energy Information Administration reported an injection of 99 Bcf natural gas into storage for the week ended May 12, which was below median estimates and boosted Nymex natural gas futures. Prior to the report, injection estimates ranged from 98 Bcf to 116 Bcf, with a median of 108 Bcf. The June Nymex futures contract was up 1.7 cents at $2.382/MMBtu prior to the report and jumped to $2.465 – up 10.0 cents – when the EIA data was released.
Topics:businessenergy#energy#energy-information-administration#futures#injection#natural-gas#storage
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