Natural gas traders appeared to need more convincing that the hugely bullish miss in the latest government inventory data holds water. After bouncing as
The Energy Information Administration (EIA) stunned the natural gas market with a much smaller-than-expected 18 Bcf net injection into storage inventories
EIA s Massive Storage Draw Too Little Too Late; April Natural Gas Prices Fall Again naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Natural Gas Price Action Muted After EIA Reports Second Largest Storage Withdrawal on Record
The Energy Information Administration (EIA) reported a monstrous 338 Bcf withdrawal from natural gas storage for the historically cold week ending Feb. 19, falling short of the all-time high but easily taking the second spot.
April natural gas futures prices briefly bounced on the EIA figure, but anyone who blinked may have missed it. The prompt Nymex contract was trading relatively flat day/day at around $2.805/MMBtu in the minutes leading up to the report. As the data crossed trading desks, the April contract jumped to $2.819, but by 11 a.m. ET it was at $2.788, down seven-tenths of a cent from Wednesday’s close.