At 12:15 GMT, Natural Gas Futures are trading $3.398, up $0.061 or +1.83%.
Will the EIA Storage Miss Fuel Further Gains?
The EIA reported a storage build of 53 Bcf for the week ended July 4, below expectations of 61 Bcf, signaling stronger demand and helping August Nymex natural gas settle higher by 3.83% on Thursday.
This smaller build aligns with seasonal trends while highlighting supply constraints and emerging summer demand pressures.
Inventories are now 6% below year-ago levels yet remain 6.1% above the five-year seasonal average, suggesting supply is still adequate but tighter than the market had priced in before the report.
Can Hotter Forecasts Sustain This Rally?
Weather models turned warmer in key regions, with above-normal temperatures projected for the West from July 20-24, supporting near-term cooling demand.
Although prior cooler forecasts for the Midwest and East temporarily weighed on prices earlier in the week, the shift back toward heat is reviving bullish sentiment.
