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Natural gas gains 2 cents

Posted on: February 16, 2017

Not a large gain for NG futures as higher 6-10d mid-February temperature forecasts depressed US demand. There are some expectations that the East may experience a burst of cold air within the next couple of days. EIA weekly storage report is forecasted for a 127 bcf draw for the week ended February 10th. Gasoline stockpiles rose by 2.846m bbl versus the 500k Bloomberg analyst survey.

Overall, NYMEX NG prompt futures gained 2 cents to settle at $2.925 for the day with a $3.00 resistance.


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