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Natural Gas Price Dips Again After Storage Report

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 147 billion cubic feet for the week ending December 9. Analysts were expecting a storage decline of about 125 billion cubic feet. The five-year average for the week is a withdrawal of around 79 billion cubic feet, and last year’s storage decline for the week totaled 46 billion cubic feet. Natural gas inventories fell by 42 billion cubic feet in the week ending December 2.

Natural gas futures for January delivery traded down around 1% in advance of the EIA’s report, at around $3.51 per million BTUs, and traded near $3.57 after the data release. Natural gas closed at $3.54 per million BTUs on...


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