U.S. Natural Gas Futures Rise Ahead of Storage Data
Dow Jones
1 hour ago
1528 ET - U.S. natural gas futures advance as late-summer heat and LNG exports support demand. Weekly storage data due Thursday are expected to show a reduction in the inventory surplus over the five-year average, and a widening of the deficit over the year-ago level. Analysts in a Wall Street Journal survey expect a storage build of 29 Bcf, smaller than the 37 Bcf average for the week. "Weather-driven consumption is expected to decline more sharply next week, which should eventually create room for larger builds, but the near-term storage trajectory remains tighter than the broader supply backdrop suggests," Gelber & Associates says in a note.Nymex natural gas settles up 1.8% at $2.956/mmBtu.
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