June natural gas prices extended their slide from yesterday's negative reversal action and spent most of the early morning hours in negative territory. The market saw a surge in trading volume during yesterday's push toward the $2.30 level and subsequent turn into negative territory. Yesterday's weekly EIA natural gas storage report showed an injection of 47 bcf, which was in line with expectations, but the report also showed a downward revision of 11 bcf from recent weeks. Total storage stands at 2,548 bcf or 55.4% above the 5 year average. Over the last four weeks natural gas storage has increased 111 bcf.
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