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Barchart
Barchart
Rich Asplund

Nat-Gas Gives up Early Gains on the Outlook for Higher EIA Inventories

June Nymex natural gas (NGM25) on Wednesday closed downy by -0.314 (+10.09%).

June nat-gas prices on Wednesday gave up an early advance and settled lower, giving back some of Tuesday's sharp gains.  Long liquidation pressures emerged in nat-gas futures on expectations that EIA nat-gas inventories will continue to build.  The consensus is that Thursday's EIA nat-gas inventories will climb by +119 bcf for the week ended May 16, well above the five-year average for this time of year of +87 bcf.  

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