The U.S. Energy
Information Administration (EIA) reported on Thursday that natural gas
inventories increased by 120 billion cubic feet (bcf) in the week ended May
16. This marked the 10th straight weekly build in
natural gas inventories, the pace of which was the strongest since early October 2022.
Economists had foreseen a surge of 115 bcf.
The previous week witnessed a climb of 110 bcf.