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EIA weekly natural gas inventories +95 vs +91B expected
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US EIA Natural Gas Storage Change (BCF) 16-Jun: 95 (exp 90; prev 84)
— LiveSquawk (@LiveSquawk) June 22, 2023
- Salt Dome Cavern Nat Gas Change (BCF): +6 (prev +5)
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Natural Gas price starts falling after Gas storage data beats estimates
Natural Gas price starts declining on Thursday after Natural Gas Storage Change data from the Energy Information Administration (EIA) shows a suprise rise in inventories, indicating robust supply. Gas prices have been recovering due to a mixture of a weaker US Dollar and hotter-than-expected summer weather in the Western world. Temperatures in Texas, for example, are breaking records and the trend is set to continue for 7-10 days, according to forecasters. If the summer is hotter overall, it will quickly put pressure on Natural Gas supplies used in air conditioning, according to a report by Natural Gas World. XNG/USD ... (full story)