U.S. natural gas futures edged higher, with the market shrugging off a larger-than-average storage build of 59 billion cubic feet, which widened the surplus compared to the five-year average. Considering the mild, bearish spring weather, the market’s failure to see a more significant decline “may indicate that the market is running out of momentum.” “Starting with next week’s report, injection volumes are expected to increase substantially.” Natural gas futures for May delivery on the New York Mercantile Exchange settled 1.4% higher at $2.647 per million British thermal units.
