EIA Storage Build Misses Estimates, Prompt Month Prices Rise

Natural gas futures settled higher on Thursday after the US Energy Information Administration (EIA) reported a smaller-than-expected storage injection. The EIA's weekly inventory report revealed a build of 32 billion cubic feet in natural gas storage, which fell short of estimates.

The news supported prompt month prices, with traders noting that heat is supporting demand. However, they remained cautious amid comfortable inventories and robust production levels.

Despite the smaller-than-expected injection, natural gas stocks remain above average for this time of year, suggesting that there is still a surplus in storage. This could weigh on prices in the coming weeks.