Post by
dooklar on Apr 18, 2024 2:55pm
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natural gas futures hold onto gains as the EIA reports a below-average increase in inventories for last week. Natural gas in underground storage grew by 50 billion cubic feet to 2,333 Bcf as of April 12, which was 622 Bcf or 36% above the five-year average for the week. The injection was larger than the 45 Bcf estimate in a Wall Street Journal survey of analysts, but less than the 61 Bcf year-earlier injection, and reduced the surplus from 633 Bcf the previous week. Natural gas for May delivery is up 2.8% at $1.760/mmBtu.