Natural Gas tries to hold above $3.50 mark, EIA gas storage up 101 BCF

Natural Gas futures are trying to hold above $3.50 per mmbtu today after testing one week low in last session. The counter fell amid weak US equities, dropping 1% on the day. Markets are focusing on the elevated US Natural Gas storage. The working natural gas in US by 101 Bcf for the week ending May 23, setting a record of five consecutive weeks with triple-digit injections, according to the Energy Information Administration (EIA). Total storage stood at 2,476 billion cubic feet. The total working gas was within the five-year historical range. The counter is currently quoting at $3.53 per mmbtu, up 0.48% on the day.

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