Futures fly after bullish gas storage build of 17 Bcf to 3.294 Tcf: EIA

摘要

Natural gas futures rocketed Thursday morning following a historically low build to gas in storage. US gas in storage increased by 17 Bcf to 3.294 Tcf in the week ended July 22, the US Energy Information Administration reported Thursday. The NYMEX September gas futures contract soared 19 cents to $2.85/MMBtu within an hour of the storage announcement. It represents the highest gain to the front-month since July 1 when the contract spiked 20 cents to $2.91. The net injection was less than any analysts expected, as those surveyed by Platts predicted a build ranging anywhere from 24 Bcf to 34 Bcf.