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Natural Gas falls 8 cents

Posted on: March 17, 2017

NYMEX NG prompt futures lost 8 cents settling at $2.90 largely driven by inventories falling less than expected. Inventories fell by 53bcf to 2.242 tcf vs Bloomberg analyst survey forecast for a 57bcf drop.

February was the second warmest on record in the lower 48 states. As the peak demand Winter season comes to a close and the stockpiling season begins, inventories sit at 21% above the 5 year average according to Bloomberg. Short term weather expectations remain relatively bearish.


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