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Higher Inventories Might Support Natural Gas Prices

Robert Scott
Higher Inventories Might Support Natural Gas Prices

In the week ending April 20, natural gas inventories declined by 18 Bcf (billion cubic feet) to 1,281 Bcf—based on the EIA’s (U.S. Energy Information Administration) data announced on April 26. The fall was 7 Bcf more than the market’s expectation. On April 26, natural gas June futures rose 1.1% due to the bullish inventory data.