Natural Gas Holds Below $3 as Storage Surplus Widens

U.S. natural gas inventories sit over 6% above the five-year average. WSJ analysts expect a 31 Bcf injection, pushing the surplus to 193 Bcf (a Bcf is one billion cubic feet). Even summer heat hasn't lifted prices above $3/MMBtu. The extra supply cushions price swings, benefiting utilities and industrial buyers.