1537 ET - U.S. natural gas futures settle lower with little consolation from the smallest inventory build of the season to date. The EIA reported a below-average 16 Bcf storage increase for last week, which reduced the inventory surplus over the 2021-2025 average by 13 Bcf to 185 Bcf. "The small build confirms that current heat and power-sector demand are limiting injections, but stocks remain comfortably above the five-year average and are still projected to approach 4 Tcf by the end of the injection season," Gelber & Associates says in a note. Nymex natural gas settles down 2.9% at $2.733/mmBtu.
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