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Slight gain in natural gas

Posted on: March 03, 2017

NYMEX natural gas traded in a range of $0.105 on Thursday and settled at $2.804/MMBtu, gaining half a cent on the day. The EIA reported the first February injection in over 20 years, with a 7-Bcf raise in inventories. This led to a quick sell off initially as the market was looking for a small draw on storage levels, however natural gas was able to move into and settle in the green.

Total stocks now total 2,363-Bcf, 187-Bcf lower than this time last year, and 295-Bcf higher than the 5 year average.

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