Lean Storage Print Offers Lifeline to Futures
The US Energy Information Administration reported a 77 Bcf net injection of natural gas into underground storage for the week ended Oct. 16.
The US Energy Information Administration (EIA) reported a 77 Bcf net injection of natural gas into underground storage for the week ended Oct. 16, according to NGINaturalGas. The figure landed on the tighter side of consensus forecasts, confirming a 10th straight bullish figure versus five-year historical norms.
Storage Data and Market Impact
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The latest storage print provided a lifeline to struggling natural gas futures. The data reinforces ongoing tightening trends when measured against historical figures over the five-year period.
Key facts
- The EIA reported a 77 Bcf net injection of natural gas into underground storage.
- The data covers the week ended Oct. 16.
- The print landed on the tighter side of consensus forecasts.
- The figure marks the 10th straight bullish figure versus five-year historical norms.
Source: naturalgasintel.com
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