Natural Gas Prices Today: Stable Ahead of EIA Report

Natural gas futures exhibited minimal changes as traders awaited the release of the Energy Information Administration's (EIA) inventory report. According to a survey conducted by The Wall Street Journal, the report is expected to show a withdrawal of 165 billion cubic feet from storage for the previous week. This figure is more than double the five-year average withdrawal of 71 Bcf for the same week.

Despite the anticipated large withdrawal, the Nymex front-month natural gas price experienced a slight decline of 0.2%, trading at $3.373 per million British thermal units (mmBtu).

In Europe, natural gas prices fell during afternoon trading sessions as the market responded to milder weather forecasts. The benchmark Dutch TTF contract dropped by 3.3%, reaching €43.22 per megawatt-hour, down from recent levels above €49.

Additionally, data from Gas Infrastructure Europe indicated that as of Tuesday, EU gas storage levels were at 80.88% capacity, which is below the five-year seasonal average of 84%.