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Natural Gas falls 2.4 cents

Posted on: July 14, 2017

Inventories rose by 57-Bcf to 2.945-Tcf, 6.2% above the five year average and more or less in line with the survey injection numbers earlier this week. However, hotter weather that stimulates cooling demand is more critical than ever to bring down the gushing global stockpiles.

According to MDA weather services the temperatures will be hotter than average for most of the US during the July 18-22nd period. The IEA is not overall optimistic about the price of Natural Gas in the long-run, citing the rush to renewable energy and a likely 0.9% consumption figure up until 2022, versus the prior 6 year 2.2% consumption levels experienced. All in all, the overly-weighted bearish news push NG $0.024 lower to settle at $2.961.


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