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MOST POPULAR ARTICLES
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D’Agostino: Gold Physical Sales Still Up 50%; Gold ETFs Shake Out Leveraged Speculators
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***Top stories from the last 15 days
- Written by Sumit Roy |
- November 01, 2012
NatGas Hits 1-Year High Despite Mild Temps, First Cold Snap Will Send Prices Above $4
- Details
We examine the latest developments in the natural gas market.
Natural gas prices were little changed after the Energy Information Administration reported that operators injected 65 billion cubic feet into storage last week, within the 67 to 71 bcf range that most analysts were expecting.
The injection was below the year-ago build of 78 bcf, but above the five-year average build of 57 bcf.
In turn, inventories now stand at 3908 bcf, which is 114 bcf above the year-ago level and 266 bcf above the five-year average (calculated using a slightly different methodology than the EIA).
The weather last week was much milder than seasonal norms. Looking forward, the first sustained cold snap of the winter heating season continues to be elusive. The NOAA is forecasting warmer-than-normal temperatures in its 6- to 10-day outlook.
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