Post by
dooklar on Apr 18, 2024 3:53pm
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natural gas futures settle higher after a storage report showing a slight reduction last week in the inventory surplus, while colder near-term weather trends are likely to lift demand for the coming week. The EIA reported a 50 Bcf build in underground gas storage for last week--roughly in line with the 45 Bcf build estimated in a Wall Street Journal survey--which lowered the storage surplus above the five-year average to 622 Bcf from 633 Bcf the previous week. Natural gas for May delivery settles up 2.6% at $1.757/mmBtu.