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Natural Gas slides 6.2 cents

Posted on: July 13, 2017

An overnight shift in the weather forecasts from the commodity weather group proved bearish for NG prompt futures. The Southern half of the States for the July 17-21st period has normal temperatures, Midwest readings fell to average during the July 22-26th period. There is simply no getting around it, weather fundamentals will act as a strong driver while market participants continue to gauge the outlook for the critical summer season.

The weekly storage data is due today with estimates somewhere in the 51-61-Bcf build range. Overall, NG prompt futures fell $0.062 to settle at $2.985.

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