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Natural Gas Falls As Bulls Take Profits Despite Triple-Digit Supply Drawdown

From fxdailyreport.com

Natural gas futures are slumping on Thursday as investors take profits following the energy commodity’s meteoric rally in the first couple of weeks of trading in 2022. Has natural gas peaked, or are there more gains to be enjoyed by the bulls? March natural gas futures tumbled $0.219, or 5.06%, to $4.108 per million British thermal units (btu) at 16:06 GMT on Thursday on the New York Mercantile Exchange. Natural gas is poised for a weekly gain of about 10%, lifting its year-to-date surge to nearly 15%. According to the US Energy Information Administration (EIA), domestic inventories of natural gas declined 179 ... (full story)

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  • Category: Fundamental Analysis