Natural Gas Finishes Unchanged After Storage Data

1452 ET – Natural gas finishes virtually unchanged, ending down a miniscule 0.05% at $2.190/mmBtu. The market was posting gains for much of the session, reaching as high as $2.255 following a weekly EIA report that showed gas inventories rose by 78 billion cubic feet, which was bullish compared to the average 87-bcf increase. But it was slightly higher than analysts expected, and inventories are still 18% above average, so the bullish rally began to fizzle. Broader-market risk aversion amid a return of regional bank fears also provoked some late-session selling. Curiously, natural gas and WTI crude have now ended the day either both up or both down, as was the case today, for 12 consecutive trading days. (dan.molinski@wsj.com)

Natural Gas Stays Higher After EIA Storage Report

1041 ET – Natural gas is holding on to moderate gains, up 0.6% at $2.204/mmBtu after a weekly EIA storage report that came in slightly bearish compared to forecasts but was still bullish compared to historical averages, and helped reduce a weighty storage surplus. The US government agency says gas inventories rose by 78 billion cubic feet last week versus forecasts in a WSJ survey for a 74-bcf rise and versus the five-year-average rise of 87 bcf. Total inventories are now 2.141 trillion cubic feet, and the storage surplus is trimmed to 18% above average vs 20% above average a week ago. (dan.molinski@wsj.com)