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Why EIA Data Might Dismay Natural Gas Bulls

Robert Scott
Why EIA Data Might Dismay Natural Gas Bulls

In the week ending July 27, natural gas inventories rose by 35 Bcf (billion cubic feet) to 2,308 Bcf, according to the EIA’s (U.S. Energy Information Administration) data released on August 2. The market expected an addition of 51 Bcf for the same week, according to Reuters’ estimates. On August 2, natural gas September futures rose 2.1%.