EIA Reports Near-Average Natural Gas Storage Injection Despite Bearish Miss

The US Energy Information Administration (EIA) reported a net injection of natural gas into underground storage during the week ended Sept. 4, exceeding consensus forecasts with a 40 Bcf figure.

This is despite a bearish miss in terms of overall storage levels, which are still below historical norms. The South Central region saw a particularly significant drop in salt stocks, down 19% year-over-year.

The price reaction to the report was muted, with the NYMEX futures market showing little change. The EIA's data is closely watched by traders and analysts as it provides insight into the country's natural gas storage levels and can impact prices.