Natural Gas Futures Hover Near $3 Ahead of EIA Storage Report
Natural gas futures hovered near $3 on Thursday as market participants awaited the weekly Energy Information Administration (EIA) storage report.
The market is anticipating a bullish update, with buyers stepping up early in the day to take positions ahead of the release.
At this time, market expectations are for a 30s Bcf injection, but NGI sees a more significant 31 Bcf storage build. Lower 48 fundamentals remain mixed, adding complexity to the market's predictions.