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US natgas prices jump 5% on higher demand forecast, lower output

From boereport.com

U.S. natural gas futures jumped about 5% on Thursday on a continued drop in output and forecasts for more demand next week than previously expected due to an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants. The price rise came even though last week’s storage build was slightly bigger than analysts expected. The U.S. Energy Information Administration (EIA) said utilities added 59 billion cubic feet (bcf) of gas into storage during the week ended April 26. That was more than the 55-bcf build analysts forecast in a Reuters poll and compares with an increase of 62 bcf in the same week ... (full story)

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  • Category: Fundamental Analysis