Natural Gas is trading 3.1% up at $3.39 following a smaller-than-expected U.S. storage build and continued optimism regarding future demand.
- The U.S. reported a 92 Bcf inventory injection for the week ending May 22, falling short of the 94–96 Bcf consensus and signaling tighter supply than market participants anticipated.
- Prices are also being supported by forecasts for above-normal U.S. temperatures in early June, which are expected to drive cooling demand.
- Ongoing geopolitical risks affecting global gas flows continue to underpin U.S. export demand, providing further support to the price action.