On the New York Mercantile Exchange, natural gas futures for delivery in July traded at USD3.795 per million British thermal units during U.S. morning trade, up 0.45% on the day.
It earlier fell by as much as 1.6% to hit a session low of USD3.716 per million British thermal units.
The July contract traded at USD3.748 prior to the release of the U.S. Energy Information Administration report.
The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended June 7 rose by 95 billion cubic feet, below market expectations for an increase of 96 billion.
Inventories rose by 66 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a rise of 84 billion cubic feet.
Total U.S. natural gas storage stood at 2.347 trillion cubic feet as of last week. Stocks were 587 billion cubic feet less than last year at this time and 58 billion cubic feet below the five-year average of 2.405 trillion cubic feet for this time of year.
The report showed that in the East Region, stocks were 102 billion cubic feet below the five-year average, following net injections of 57 billion cubic feet.
Stocks in the Producing Region were 2 billion cubic feet below the five-year average of 915 billion cubic feet after a net injection of 25 billion cubic feet.
Prices were lower earlier in the session as an uncertain demand outlook weighed.
Weather forecasting models continued to point to above-normal temperatures across most of the U.S. over the next six-to-ten days, before giving way to below-normal temperatures later in June.
Demand for natural gas tends to rise in the summer months as warmer temperatures increase the need for gas-fired electricity to power air conditioning.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in July shed 0.2% to trade at USD95.69 a barrel, while heating oil for July delivery added 0.45% to trade at USD2.908 per gallon.
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