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Colder Weather Ups Natural Gas Demand, Weighs on Prices
The U.S. Energy Information Administration (EIA) reported Friday morning that U.S. natural gas stocks decreased by 162 billion cubic feet for the week ending November 21st, compared with an expected decrease of 130 billion cubic feet anticipated by analysts. Natural gas futures for January delivery were trading up about 1.8% in advance of the EIA’s report, at around $4.48 per million BTUs, and slipped a little to around $4.42 (up about 0.6% for the day) immediately following the EIA report. Natural gas futures have slipped by about $0.05 per million BTUs since last week. Stockpiles are about 9.2% below their levels ... (full story)