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Natural Gas Tanks on Bearish US Supply Build, Struggles To Hold $1.80
Natural gas futures tumbled toward the end of the trading week after a larger-than-expected build added to ballooning US inventories. The energy commodity has failed to carve out a path to higher prices, with the so-called bridge fuel struggling to hold $1.80. With ample inventories and solid production, the bears will be camped out for a while longer. May natural gas futures plunged $0.085, or 4.51%, to $1.80 per million British thermal units (Btu) at 14:40 GMT on Thursday on the New York Mercantile Exchange. Natural gas is poised for a weekly gain of 2.7%, but it is in bear territory as it has slumped 21% ... (full story)