US natural gas inventories rose by 41 billion cubic feet, slightly below the 45 Bcf consensus estimate.
US natural gas inventories increased by 41 billion cubic feet for the week ended July 10, bringing total stocks to 3,024 Bcf. The build was below the 45 Bcf consensus forecast but marked a rise from the prior week’s 2,983 Bcf level.
The latest print compares with a 41 Bcf injection during the same week last year and a five-year average build of 50 Bcf. Market expectations had centered on a slightly higher addition amid seasonal demand trends.
Natural gas futures (NG1:COM) edged up 1% to $2.95 per MMBtu following the release, reflecting modest price sensitivity to inventory deviations.