The injection beat expectations but slowed sharply from last week’s 61 Bcf increase, signaling a cooling pace of inventory builds heading into summer.
U.S. natural gas inventories increased by 41 Bcf in the latest EIA report, exceeding the 39 Bcf forecast but falling well short of last week’s 61 Bcf injection. The slower week-on-week build suggests the pace of storage additions is cooling as the market moves toward the summer demand period, when hotter weather can lift gas use for power generation.