FX.co ★ US Natgas Prices Fall Ahead EIA Data

US natural gas futures slipped to $2.8116 per MMBtu ahead of the weekly federal storage report, as markets anticipated that energy firms injected a near-normal 85 billion cubic feet of gas into storage last week. That compares with a 109 billion cubic feet injection in the same week a year earlier and a five-year average build of 84 billion cubic feet. If confirmed, total inventories would increase to 2.290 trillion cubic feet, about 2.3% above year-ago levels and 6.5% above the five-year average. Recent weeks have seen production ease as some producers, including EQT, curtailed output in response to persistently weak spot prices. At the same time, gas flows to major US export terminals have declined from a monthly record, reflecting seasonal maintenance at several facilities, including Freeport LNG in Texas and Cameron LNG in Louisiana.