U.S. natural gas futures end modestly lower heading into the long Independence Day weekend with little impact from an above-estimate inventory build. The 87 Bcf storage injection for last week was above the 64 Bcf five-year average, and bigger than the 81 Bcf estimate in a Wall Street Journal survey of analysts. Reaction was muted as prices remain supported by near-term heat and strong export demand, Andy Huenefeld of Pinebrook Energy Advisors says in a note. "Although temperature anomalies are expected to soften beyond the holiday weekend, power generation demand will likely remain strong in the weeks ahead as storage builds trend lower into peak summer." Nymex natural gas settles down 0.7% at $3.196/mmBtu.(anthony.harrup@wsj.com)
Dow Jones Newswires
U.S. Natural Gas Futures Slip Ahead of Holiday — Market Talk
U.S. natural gas futures end modestly lower heading into the long Independence Day weekend with little impact from an above-estimate inventory build. The 87 Bcf storage injection for last week was above the 64 Bcf five-year average, and bigger than the 81 Bcf estimate in a Wall Street Journal surve…