Currently, natural gas has slowed after the Energy Information Administration revealed that gas inventories increased higher than expected, according to Business Insider.
“The net injection to U.S. natural gas storage was more than the consensus expectation and suggests a slight weakening in the market’s underlying supply-demand balance,” Citi Futures Perspective analyst Tim Evans said.
According to the EIA, natural gas inventories rose 57 billion cubic feet for the week ended June 22, with storage levels at 75%. Stocks were 653 billion cubic feet higher year-over-year over the same period and 613 billion cubic feet above the 5-year average.
U.S. Natural Gas Fund
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Max Chen contributed to this article.