The NYMEX October natural gas futures contract settled up 7.7 cents at $2.725/MMBtu on Thursday as the market seemed to have previously priced in a fairly bearish storage report. US natural gas in storage rose 94 Bcf to 3.193 Tcf for the week ended August 28, the US Energy Information Administration said Thursday, above consensus expectations of an injection between 83 Bcf and 87 Bcf. The EIA announced a 79-Bcf injection for the same week last year, while the five-year average is a 60-Bcf build. However, the data included an 8-Bcf reclassification that had already been announced by ANR Pipeline, so it was not a very bearish surprise, Tim Evans, energy futures specialist with Citi, said in a note. Article continues below… Gas Daily offers the most detailed coverage of natural gas prices at interstate and intrastate pipeline and pooling points in major U.S. markets. Gas Daily keeps you […]