U.S. Natural Gas Futures Flit Around $3 Ahead of Storage Data
Dow Jones
Sep 24
0955 ET - U.S. natural gas futures are holding around the $3 level as the market awaits weekly inventory numbers that are expected to show a below-normal storage injection. Analysts in a WSJ survey expect a 53 Bcf build for last week that would lower the inventory surplus over the five-year average to 95 Bcf from 118 Bcf the previous week. The EIA report is due at 10:30 a.m. ET. "Near-term volatility risks remain elevated into October contract final settlement on Monday, while storage figures are projected to subsequently loosen in late September and early October," Eli Rubin of EBW Analytics says in a note. Nymex natural gas is off 0.6% at $3.006/mmBtu.
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