Commodities
US Natural Gas Futures Initial Gains Fizzle Out
Natural gas futures initially strengthened on Thursday after a smaller-than-expected government storage injection reinforced signs that the US inventory cushion is tightening.
The data from the Energy Information Administration (EIA) showed a build of 42 billion cubic feet, which was below expectations. This led to buying in natural gas futures, with prices rising initially.
However, the gains were short-lived as the session progressed and momentum faded. The buying lost steam after the initial surge, leaving natural gas futures without significant gains.