Commodities
EIA Storage Print Fails to Meet Expectations, NYMEX Futures Still Rise
The US Energy Information Administration (EIA) released its weekly storage report on Thursday, showing an injection of 15 billion cubic feet (Bcf) of natural gas into storage for the week ended August 21. This result fell short of market expectations.
New York Mercantile Exchange (NYMEX) natural gas futures had already risen in anticipation of the print, but eased as traders took profits after the report was released.
The EIA noted that stocks are currently 5.5% above average for this time of year. The injection into storage was led by the East and Midwest regions.