US EIA: NatGas stocks +300 Bcf, above expectations

The larger-than-expected build, though marginal against forecasts, signals that supply is outpacing demand more than the market anticipated. The accelerated week-over-week storage growth rate suggests the surplus is widening, which could weigh on pricing dynamics for producers and traders. The key question is whether this pace of injections persists into the next reporting period, as that would determine if the storage surplus becomes a structural overhang or a temporary seasonal adjustment.