U.S. natural gas futures (NATGAS-F) fall 2.13% on July 5 as storage build and milder forecasts weigh
AI Market Summary
US natural gas futures weakened after an EIA storage build of 87 bcf exceeded expectations, lifting inventories to over 6% above the five-year average and reinforcing near-term supply comfort. Weather models also moderated heat across key demand regions, reducing cooling degree days and gas-fired power burn. With Lower 48 dry gas output holding near 110 bcf/day and global LNG flow risks easing, the prompt market remains oversupplied.
Impact level
● Medium
Affected assets
NCCONATURALGAS2USD/USDT-0.19%
AI Insight · NCCONATURALGAS2USD/USDTAI Insight
▼ Bearish
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U.S. natural gas futures (NATGAS-F) fell 2.13% on July 5 after a larger-than-expected storage build highlighted near-term oversupply. EIA data showed inventories rose by 87 billion cubic feet for the week, lifting total stocks to more than 6% above the five-year average. Weather models also pared back high-heat expectations across the East and Midwest, reducing cooling demand and gas-fired power burn. Supply remained elevated, with Lower 48 dry gas output holding near 110 billion cubic feet per day.
