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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Fall on Ample U.S. Supplies

May Nymex natural gas (NGK23) on Wednesday closed down -0.093 (-4.25%).

May nat-gas prices Wednesday closed sharply lower.  Nat-gas prices are being undercut by ample supplies, with U.S. nat-gas inventories being 20% above their 5-year average as of Mar 31.  Nat-gas prices are also being undercut by ramped-up U.S. nat-gas production, with Wednesday's lower-48 state U.S. dry gas production up +3.0% yy/ at 99.2 bcf.  Nat-gas prices have underlying support from strong demand for U.S. LNG exports.

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