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Rich Asplund

Nat-Gas Prices See Boost From Smaller-Than-Expected EIA Inventory Build

EIA Gas Prices Nymex United States Natural Gas BNEF

Aug Nymex natural gas (NGQ23) on Thursday closed up +0.033 (+1.24%), reversing some of the overall -7.7% sell-off seen on Tuesday and Wednesday.

Nat-gas prices on Thursday saw a boost from the +76 bcf increase in weekly EIA inventories, which was a smaller build than market expectations of +82 bcf. However, natural gas prices continued to be undercut by forecasts that the excessive heat in Texas will start to moderate this weekend, although those hot temperatures are expected to shift towards the central Mississippi Valley.

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